Thursday, May 23, 2024

Ads by Google

Ads by Google

HomeNewsPlanning to buy a new car? Tata Motors to hike prices up...

Planning to buy a new car? Tata Motors to hike prices up to 2% across segments from this date

Tata Motors announced on Thursday that it would implement a price hike of up to 2 per cent on its commercial vehicles starting April 1 to compensate for lingering effects from previous input cost increases.

Tata Motors to hike commercial vehicle prices by up to 2 pc from April. (REUTERS/Anushree Fadnavis/File Photo)
Tata Motors to hike commercial vehicle prices by up to 2 pc from April. (REUTERS/Anushree Fadnavis/File Photo)

How much will the price increase for Tata Motors cars?

Tata Motors has not disclosed the specific percentage increase for each model.

Hindustan Times – your fastest source for breaking news! Read now.

Although the degree of increase will vary based on individual models and variants, it will be implemented uniformly across the entire spectrum of commercial vehicles, Tata Motors said in the regulatory filing.

India’s leading automaker by revenue had previously raised prices for its commercial vehicle range by up to 3 per cent in January.

ALSO READ- Tata Motors demerger: How does it affect shareholders?

Tata Motors to demerge business into two separate companies

Earlier this week, Tata Motors announced its decision to undergo a strategic split into two separate listed companies, effectively segregating its Commercial Vehicle (CV) business from its passenger vehicle arm.

The restructuring involves consolidating the commercial vehicles business and its related investments into one entity, while the passenger vehicle business, encompassing electric vehicles, Jaguar Land Rover (JLR), and associated investments, will form the second entity.

ALSO READ- LTI Mindtree CFO Vinit Teredesai resigns; Vipul Chandra to assume role

Moody’s affirms Tata Motors’ Ba3 corporate family rating

Moody’s on Wednesday affirmed Tata Motors’ Ba3 corporate family rating with a positive outlook, including the Ba3 senior unsecured instrument ratings for Tata Motors Ltd.

Despite the demerger, Moody’s noted Tata Motors’ strong position in India’s commercial vehicle industry, expecting ample free cash flow and robust credit metrics for its commercial vehicle operations. The rating also incorporated a one-notch uplift, anticipating extraordinary support from parent company Tata Sons Ltd when needed.

Shares of Tata Motors today

The stock of Tata Motors climbed 2.14 per cent to settle at 1,039.35 apiece on the BSE. During the day, it jumped to 1,046.85.

ALSO READ- Stocks to buy: Tata Steel, Bharti Airtel hit 52-week high. List of major gainers and losers

On the NSE, shares of the company went up by 2.13 per cent to settle at 1,039.30 each. During the day, it zoomed to 1,047.