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Tata Motors plans to raise prices by up to 1.5 pct

Source : REUTERS
Last Updated: Fri, Sep 20, 2013 08:43 hrs
Men walk inside a Tata Motors showroom on the outskirts of Agartala

Tata Motors Ltd, India's largest automaker by revenue, is looking to raise prices by 1 percent-1.5 percent across its range of commercial and passenger vehicles, following similar moves by rival carmakers.

The price increase comes on the back of higher input costs, a company spokeswoman said on Friday.

On Thursday, Hyundai Motor's India unit said it would raise prices by 4,000 rupees to 20,000 rupees ($320) for most of its vehicles, citing a weaker rupee and inflation. General Motors and Toyota Motor Corp have also raised prices in the country.

Rising fuel prices and interest rates in a slowing economy have hurt the Indian automobile market, and vehicle sales are expected to fall in the current fiscal year ending March 2014.

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