India’s Tata Motors to hike prices of commercial vehicles

BENGALURU, (Reuters) – Tata Motors said, on Wednesday it will increase prices of its commercial vehicles by up to 2%, effective July 1 to offset the impact of rising commodity prices.

Tata Motors, India’s top automaker by revenue, had last hiked prices for its commercial vehicles by up to 2% in March.

The company said in an exchange filing that the price increase will apply across the lineup, but vary according to models and variants.

Shares of Tata Motors have risen 26.6% so far this year and is currently down 0.2%.

Reporting by Navamya Ganesh Acharya in Bengaluru; Editing by Savio D’Souza