Tata Motors has announced a price hike of up to two percent on its entire range of commercial vehicles, effective from July 1, 2024.
The decision comes in response to rising commodity prices, impacting production costs across models and variants.
Leading Commercial Vehicle Manufacturer
Tata Motors, known for its trucks, buses, and other commercial vehicles, has seen recent acclaim for its electric vehicle models.
Both the PUNCH EV and NEXON EV have achieved a prestigious 5-star safety rating under the Bharat New Car Assessment Program (Bharat-NCAP), reinforcing Tata Motors’ commitment to safety and innovation in the EV segment.
Market Response and Financial Performance
On June 19, Tata Motors’ shares experienced fluctuations, opening marginally higher at Rs 990.90 and later declining to Rs 977.80. The company currently holds a market capitalization of Rs 3.26 lakh crore.
Notably, Tata Motors reported a significant increase in consolidated net profit to Rs 17,528.59 crore in the January-March 2024 quarter, compared to Rs 5,496.04 crore in the same period last year.
Consolidated revenue from operations also rose to Rs 1,19,986.31 crore from Rs 1,05,932.35 crore year-over-year.
