Tata Motor hikes price of passenger vehicles

India's leading vehicle manufacturer announced a price increase across its passenger vehicles, to partially offset the rise in input cost.

"Effective today, (April 23, 2022), the weighted average increase is 1.1%, depending on the variant and model," Tata Motors said in a statement.

The company hiked price of its commercial vehicles (CVs) by 2% to 2.5% from 1 April 2022 across the range, depending upon individual model and variant. The increase was due to higher commodity prices.

On a consolidated basis, the auto major reported net loss of Rs 1,338.17 crore in Q3 FY22 as against a net profit of Rs 3,222.21 crore in Q3 FY21. Net sales fell 4.6% to Rs 71,406.77 crore in Q3 FY22 over Q3 FY21.

 

Tata Motors, part of the Tata group, is a global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses.

Shares of Tata Motors declined 2.01% to end at Rs 438.95 on Friday.

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