Tata Motors gains on move to hike commercial vehicle prices up to 3%

Shares of Tata Motors Limited rose 0.5 per cent to Rs 643 in the early hours of September 20, extending gains for the third straight session after the company announced it would hike prices of utility vehicles by up to 3%. %, starting October 1. .
“The price increase is aimed at offsetting the residual impact of previous input costs and will be applicable across the entire commercial vehicle range,” India’s largest commercial vehicle maker said in a statement. .
Over the past six months, Tata Motors shares have increased 56%. This is the highest among all major publicly traded automakers.
Earlier in the month, Tata Motors recorded a slight year-on-year growth of 1.9 per cent with total sales of 32,077 units in August compared to 31,492 units a year ago. Domestic medium and heavy internal combustion vehicle (M&HICV) sales in August, including trucks and buses, stood at 13,306 units, compared with 12,069 units in the same month last year.
Additionally, the country’s largest electric vehicle manufacturer has introduced the 2023 edition of the Nexon in petrol, diesel and electric variants to strengthen its presence in the competitive compact sports utility vehicle market. high paintings.
The petrol and diesel variants start at Rs 8.09 lakh and Rs 10.99 lakh. The battery-powered variants will start at Rs 14.7 lakh (mid-range) and Rs 18.19 lakh (long-range).
Once available in the market, the new Nexon will be pitted against Hyundai Venue, Kia Sonet, Maruti Suzuki Brezza and Mahindra XUV300 in the petrol/diesel segment and the Mahindra XUV400 in the electric vehicle segment. The new variants come with a major upgrade in technology as the model now gets six airbags as standard.