Tata Motors, India’s largest commercial vehicle manufacturer, on Thursday announced that it will increase the price of its commercial vehicles effective 1st April 2024, up to 2 per cent, the company announced through an exchange filing.
The price increase is to offset the residual impact of the past input costs. While the price increase will vary as per individual model and variant, it will be applicable across the entire range of commercial vehicles.
Demerger of Tata Motors
Earlier on March 4, the Board of Directors of Tata Motors Limited (TML), at its meeting has approved the proposal of demerger of Tata Motors Ltd into two separate listed companies housing: the Commercial Vehicles business and its related investments in one entity; and the Passenger Vehicles businesses including PV, EV, JLR and its related investments in another entity, the company announced through an exchange filing.
According to the regulatory filing, the demerger is a logical progression of the subsidiarisation of PV and EV businesses done earlier in 2022 and shall further empower the respective businesses to pursue their respective strategies to deliver higher growths with greater agility while reinforcing accountability.
Tata Motors shares
The shares of Tata Motors on Thursday at 3:30pm IST were at Rs 1,038, up by 2 per cent.
