New Delhi: In a recent announcement, Tata Motors, India’s leading commercial vehicle manufacturer, has declared a 2% price hike on its entire range of commercial vehicles effective from April 1, 2024. This strategic move is aimed at offsetting the increased costs incurred by the company.
The increment in prices will be implemented across various models and variants, reflecting the diverse portfolio of the company. Tata Motors holds a significant position in the commercial vehicle sector and ranks among the top three in the passenger vehicle market. The company is renowned for its commitment to innovation, with advanced design and R&D centers spread across India, the UK, the US, Italy, and South Korea, dedicated to catering to the next generation of customers.
Expanding its business footprint beyond Indian borders, Tata Motors has established a strong presence in the UK, South Korea, Thailand, South Africa, and Indonesia. The company’s global operations enable it to distribute vehicles across Africa, the Middle East, Latin America, Southeast Asia, and SAARC countries.
As of the end of the fiscal year on March 31, 2023, Tata Motors’ extensive operations encompass 88 consolidated subsidiary companies, two joint operations, three joint ventures, and numerous equity-accounted associates. These entities collectively contribute to the company’s substantial influence in the automotive industry.
February 2024 marked a significant achievement for Tata Motors as it surpassed Hyundai to secure the second position in the domestic car sales rankings. The company reported the sale of 51,321 units, edging out Hyundai’s sales figure of 50,201 units for the same period. Tata Motors’ product lineup includes popular models such as the Nexon, Punch, Tiago, Altroz, and Tigor, which continue to drive the company’s success in the competitive market.
