Tata Motors to hike prices of commercial vehicles from July

New Delhi [India], June 28 (ANI): Tata Motors has announced it will hike the price of its commercial vehicle range from July 1, the automaker said in a statement on Tuesday.

An increase in the price of the vehicles would be in the range of 1.5-2.5 per cent, depending upon individual models and variants.

"While the company takes extensive measures to absorb a significant portion of the increased input costs, at various levels of manufacturing, the steep rise in overall input costs makes it imperative to pass on a residual proportion via a minimised price hike," the statement said.

In recent times, prices of key inputs such as metals required in the manufacturing of automobiles have risen substantially.

Tata group, an organisation worth $34 billion, is a leading global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses, offering extensive range of integrated, smart, and e-mobility solutions.

Tata Motors is India's market leader in commercial vehicles and amongst the top three in the passenger vehicles space. (ANI)