India's Tata Motors to hike commercial vehicle prices by up to 2.5% from July
- The hike is aimed at partially offsetting the impact of rising commodity prices and other input costs
Tata Motors will increase commercial vehicle prices by up to 2.5% from July 1, its second hike in three months, driven by rising input costs and commodity prices exacerbated by the Middle East war.
- Tata Motors' second price hike for commercial vehicles.
- Rising commodity prices and input costs.
- Other Indian automakers' price increases.
India’s Tata Motors said on Thursday it would increase prices across its commercial vehicle range by up to 2.5%, effective July 1, its second hike in three months as automakers grapple with rising costs from the Middle East war.
The hike is aimed at partially offsetting the impact of rising commodity prices and other input costs, the demerged commercial vehicle arm of the Tata group said.
It had raised prices of its commercial vehicles by up to 1.5% from April 1, also citing higher input costs.
Automakers in India have raised prices in recent months as they seek to cushion the impact of higher raw material costs, including steel and other commodities, amid war-linked cost pressures.
Last week, Tata Motors Passenger Vehicles said it would raise prices of its cars and SUVs, including electric vehicles, by up to 1.5% from July 1, its second hike in four months.
Rival automaker Maruti Suzuki raised vehicle prices by up to 30,000 rupees ($314.42) from June, while Hyundai Motor India also increased prices from June 1.
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