New Delhi: Tata Motors on Thursday said it has hiked the prices of its commercial vehicles, excluding Ace and Magic, by about 1.5%, with effect from this month.
“Except the Ace and Magic range, Tata Motors has taken a price increase across its commercial vehicles, with effect from 1 July, 2010. The average increase is about 1.5%,” a Tata Motors spokesperson told PTI.
The company has increased the prices to partially neutralise increase in rates of commodities such as steel and tyres, he added.
Some other auto manufacturers have also increased the prices of their vehicles from this month to offset the pressure of rising input costs.
Maruti Suzuki, General Motors and Toyota Kirloskar are also evaluating options to reduce pressure from rising input costs, mainly that of steel and tyres.
Some others, including Ashok Leyland, Hero Honda and Bajaj Auto, have already announced prices hikes.
While Ashok Leyland had said it will increase price of the entire range of commercial vehicles between Rs20,000 and Rs50,000, Hero Honda and Bajaj Auto increased prices by up to Rs1,000 on their two-wheelers.