Tata Motors shares jumped over 3% after the automobile giant announced significant price reductions across its vehicle portfolio. The move comes as the company passes on the benefits of the recently announced Goods and Services Tax (GST) rate cuts to customers. As of 9:55 AM, the shares were trading 3.02% higher at Rs 712.60.
The company revealed that commercial vehicle prices will be reduced by up to ₹4.65 lakh, with reductions ranging from ₹30,000 to ₹4.65 lakh across its commercial vehicle lineup. These cuts will take effect from September 22, coinciding with the implementation of the revised GST rates.
Tata Motors confirmed that the full GST benefit will be passed on to buyers of its commercial vehicles, reinforcing its commitment to making its products more affordable. The company had previously announced price reductions for its passenger vehicle segment as well.
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