Tata Motors Ltd. announced that it would increase the prices of its commercial vehicles by 2 to 2.5% effective April 1.
“The increase in the prices of commodities such as steel, aluminum and other precious metals, along with higher costs of other commodities, has led to this increase in the price of commercial vehicles,” the company said in a statement.
The company said that while it has taken steps to absorb a significant portion of the increased costs at various levels of manufacturing, “the steep increase in total input costs makes it imperative to pass on some remainder via a minimized price increase.”
