Hero and Tata cars become more expensive from today. Tata’s commercial vehicles became costlier by 2% from today: Hero increased the prices of some two-wheelers by ₹ 1500, the decision was taken due to increasing costs.

From today (July 1), Hero MotoCorp and Tata Motors vehicles have become expensive. Hero company has announced to increase the ex-showroom prices of some selected vehicles by Rs 1,500. At the same time, Tata Motors has announced to increase the prices of all its commercial vehicles by 2%.

On the decision to increase the prices of vehicles, both the companies said that this decision has been taken due to increase in costs. Tata gave this information in its exchange filing on June 19 while Hero MotoCorp gave this information on June 24.

Tata Motors says that the price increase will be applicable across all commercial vehicles range and the increase will vary according to different models and variants. At the same time, Hero MotoCorp said that the price increase will not be applicable on all vehicles.

Tata Motors’ annual profit increased by 1000%
Tata Motors’ profit in FY 2024 increased by more than 1000% to Rs 31,807 crore. The profit in FY 2023 was Rs 2,689 crore. On May 10, Tata Motors released its fourth quarter and annual results.

At the same time, in the fourth quarter i.e. three months of January-March, Tata Motors’ annual basis profit increased by 218.93% to Rs 17,528.59 crore. In the same quarter a year ago, the company had registered a consolidated net profit of Rs 5,496.04 crore.

Annual revenue record reached Rs 4.37 lakh crore
Tata Motors’ full year (2023-2024) revenue increased to Rs 4.37 lakh crore, this is the company’s record of highest revenue in any year. The revenue in the financial year 2022-2023 was Rs 3.45 lakh crore. That means there has been an increase of 26.58% in revenue.

Fourth quarter profit increased by 18% to ₹ 1,016 crore
Two-wheeler company Hero MotoCorp’s profit in the fourth quarter (January-March) of 2024 increased by 18% year-on-year to Rs 1,016.05 crore. In the same quarter a year ago, the company had registered a standalone net profit of Rs 858.93 crore.

The company sold 56.21 lakh vehicles in the financial year 2024.
The company sold 13.92 lakh units of motorcycles and scooters in the fourth quarter of 2024 i.e. Q4FY24, while it sold 12.70 lakh units in Q4FY23. For the entire financial year, the number of vehicles sold stood at 56.21 lakh. In 2023 it was 53.29 lakh.