Tata Motors to hike commercial vehicle prices by 2% from Oct 1

Tata Motors on Tuesday said it will increase prices of its commercial vehicle (CV) range by around 2 per cent with effect from October 1, in order to offset the impact of rising input costs. The effective price hike, in the range of 2 per cent, will be implemented based on the model and the variant of the vehicle, the auto major said in a statement. The continued rise in the cost of commodities, such as steel and precious metals, necessitates the company to pass on a part of it through increase in price of the products, it stated. Tata Motors is the country's largest manufacturer of commercial vehicles which includes trucks, buses and light commercial vehicles. The company noted that it has strived to minimise the increase in the price by absorbing a certain portion of the cost at various levels of manufacturing.