Tata Motors to hike prices of commercial vehicles from April 1

Homegrown auto major Tata Motors said it will hike prices of its commercial vehicles range by 2-2.5 percent, depending upon individual model and variant, from April 1. The increase in the prices of commodities, such as steel, aluminium 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 minimised price hike,” it added. Last week, Mercedes-Benz India had said it would increase prices of the entire model range by up to 3 percent from April 1 in order to partially offset the impact of the increase in input costs.