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After Mercedes And BMW, Tata Motors To Hike Prices From April 1

After Mercedes And BMW, Tata Motors To Hike Prices From April 1

The increase in the prices of commodities, such as steel, aluminum and other precious metals -- in addition to higher costs of other raw materials -- has incited this price hike of commercial vehicles.

Tata Motors will hike the prices of commercial vehicles by 2 to 2.5 per cent.
Tata Motors will hike the prices of commercial vehicles by 2 to 2.5 per cent.

Homegrown auto major Tata Motors on Tuesday said it will hike prices of its commercial vehicles range by 2-2.5 per cent, depending upon individual model and variant, from April 1.

The increase in the prices of commodities, such as steel, aluminum and other precious metals -- in addition to higher costs of other raw materials -- has incited this price hike of commercial vehicles, Tata Motors said in a regulatory filing.

"While the company has initiated actions to absorb a significant portion of the increased costs, at various levels of manufacturing, the steep rise in overall input costs makes it imperative to pass on some residual proportion via a minimized price hike," it added.

Last week, Mercedes-Benz India had said it would increase prices of the entire model range by up to 3 per cent from April 1 in order to partially offset the impact of the increase in input costs.

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