Tata Motors hike prices of commercial vehicles by 5% to comply with BS6 emission norms
1 min read 21 Mar 2023, 07:44 PM ISTAs Tata Motors transitions its entire vehicle portfolio to meet these standards, the company said, customers and fleet owners can expect a range of cleaner, greener, and technologically superior offerings that deliver higher benefits and lower total cost of ownership.
PremiumTata Motors is set to increase the prices of its commercial vehicles by 5% with effect from April 1, 2023. The reason behind increasing CV prices is to comply with the more stringent BS6 phase II emission norms. That being said, the price hike will apply to the entire range of Tata Motors CV.
In a regulatory filing, Tata Motors said, "will be implementing a price increase of up to 5% on its commercial vehicles starting from April 1st, 2023."
It added, "the decision to increase prices is a result of the company's efforts to comply with the more stringent BS6 phase II emission norms."
As Tata Motors transitions its entire vehicle portfolio to meet these standards, the company said, "customers and fleet owners can expect a range of cleaner, greener, and technologically superior offerings that deliver higher benefits and lower total cost of ownership."
Tata Motors strives to bring new products that fire the imagination of GenNext customers, fuelled by state-of-the-art design and R&D centers located in India, the UK, the US, Italy, and South Korea. With a focus on engineering and tech-enabled automotive solutions catering to the future of mobility, the company’s innovation efforts are focused to develop pioneering technologies that are sustainable as well as suited to evolving aspirations of the market and the customers.
In the Q3 of FY23, Tata Motors' domestic wholesales of commercial vehicles were at 90.8k units (flat yoy), and domestic retail at 97.7k units (+5%). Global wholesales stood at 97.1K units down by 6% YoY primarily because of weaker international business volumes.
In the nine months of FY23, the company's domestic CV market share (based on Vahan) was at 42.1% in YTD FY23 (-260 bps vs FY22).
