INSUBCONTINENT EXCLUSIVE:
Tata Motors has inreased price in the range of 2 per cent.The country's largest maker of commercial vehicles, Tata Motors, on Tuesday said
that it will increase price of its commercial vehicles from October 1 in the range of 2 per cent and it will be implemented basis the model
and the variant of the vehicle
The company hiked the price of commercial vehicles on the back of jump in metal prices.The continued rise in the cost of commodities, such
as steel and precious metals, necessitates the company to pass on a part of it through increase in price of the products, Tata Motors said
in a press release.The company has further strived to minimise the increase in the price by absorbing a certain portion of the cost at
various levels of manufacturing
Further, Tata Motors continues the efforts to deliver the lowest total cost of ownership for its customers and fleet owners, Tata Motors
added.Tata Motors shares were trading lower after the company announced price hikes
Tata Motors stock was down 1 per cent at Rs 296, underperforming the Sensex which was down 0.2 per cent.Tata Motors shares have so far this
year jumped 109 per cent massively outperforming the Nifty which has gained 25 per cent.
