Mumbai, March 7, 2024: India’s leading commercial vehicle manufacturer, Tata Motors, has officially announced a 2% increase in the prices of its commercial vehicles, effective April 1, 2024. The decision, communicated via an exchange filing on Thursday, aims to counterbalance the lingering impact of past input costs.
In a statement, Tata Motors clarified, “While the price increase will vary as per individual model and variant, it will be applicable across the entire range of commercial vehicles.” This move follows a recent 3% hike in commercial vehicle prices that came into effect on January 1, 2024. Additionally, passenger vehicle prices were raised by 0.7% from February 1, with a similar rationale cited to counteract rising input costs.
Tata Motors’ shares witnessed a positive response, settling with a 2.14% gain at Rs 1,039.35 on Thursday. The closing price positioned the stock just 2.53% away from its one-year high of Rs 1,065.60, recorded on March 5.
This development comes in the midst of Tata Motors’ strategic business restructuring. Earlier this week, the company revealed plans to demerge its operations into two distinct publicly listed entities. One entity will focus on the commercial vehicle business and related investments, while the other will encompass the passenger vehicle segment, including electric vehicles, Jaguar Land Rover (JLR), and associated investments.
“The demerger is a logical progression of the subsidiarisation of PV and EV businesses done earlier in 2022 and shall further empower the respective businesses to pursue their strategies with greater agility while reinforcing accountability,” stated Tata Motors in a separate announcement.
As the automotive industry continues to navigate challenges related to input costs and market dynamics, Tata Motors’ pricing adjustments and strategic business decisions reflect its commitment to maintaining competitiveness and financial resilience. The industry and investors alike will be closely monitoring the outcomes of these measures in the coming months.
Also Read: The Vistara-Air India Merger | Unleashing Growth in the Skies
eatc42
Thanks for sharing. I read many of your blog posts, cool, your blog is very good.
I don’t think the title of your article matches the content lol. Just kidding, mainly because I had some doubts after reading the article. https://www.binance.info/register?ref=IHJUI7TF
Can you be more specific about the content of your article? After reading it, I still have some doubts. Hope you can help me. https://www.binance.com/da-DK/register?ref=V3MG69RO
I really like your blog.. very nice colors & theme. Did you create this website yourself
or did you hire someone to do it for you? Plz answer
back as I’m looking to create my own blog and would like to
find out where u got this from. kudos
Does your site have a contact page? I’m having problems locating it but, I’d like to shoot you an e-mail. I’ve got some creative ideas for your blog you might be interested in hearing. Either way, great site and I look forward to seeing it grow over time.
I’d like to thank you for the efforts you have put in penning this site.
I am hoping to view the same high-grade content from you in the future
as well. In truth, your creative writing abilities has encouraged me to get my own, personal
blog now 😉
Hi! Do you know if they make any plugins to protect against hackers?
I’m kinda paranoid about losing everything I’ve worked hard on. Any tips?