Automobile major Tata Motors will be impending a price hike for its commercial vehicle range.
Accordingly, the company will increase prices in the range of 2-2.5 per cent, which will come into effect from April 1, across the range, depending upon individual model and variant.
"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," the company said in a statement.
"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."
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