Construction Industry News
Tata Motors, the largest commercial vehicle manufacturer in India, has announced a price increase for its range of commercial vehicles. A 2.5% price increase will be implemented from Jan. 1, 2022 and will be implemented in all segments: M&HCV, I&LCV, SCV and Bus, base individual model and variant of the vehicle, the company said Monday.
“The increase in the prices of raw materials such as steel, aluminum and other precious metals, in addition to the higher costs of other raw materials, has led to this price increase for commercial vehicles. While the company is absorbing a significant part of the increased costs at various levels of production , the sharp increase in total input costs makes it necessary to pass a remainder through a minimal price increase," the company said in a grant application.
Auto market leader Maruti Suzuki India, along with luxury automakers Mercedes-Benz and Audi, said on Thursday they will raise prices from January to offset rising input and feature enhancement costs.
While Maruti said the price increase planned for January 2022 will vary for different models, Mercedes-Benz India said the increase will be up to 2% for certain models due to feature enhancements and rising input costs. Maruti has already raised car prices three times this year - by 1.4% in January, 1.6% in April and 1.9% in September, bringing the total quantity to 4.9%.
The company sells a range of models, from hatchback Alto to SUV S-Cross, with prices starting from Rs 3.15 lakh to Rs 12.56 lakh (ex-showroom, Delhi) respectively.
On the other hand, Audi said the price increase will be up to 3% across the entire model range effective January 1, 2022, as a result of rising input and operating costs.
Mercedes-Benz noted that to offset feature enhancement costs amid rising input costs, it will revise the ex-showroom price of select models only upwards.
The price revision, ranging to 2%, will be in effect from Jan. 1, 2022, it added.
