Ashok Leyland To Hike Commercial Vehicle Prices By Up To 3% From Jan
The extent of price increase will vary depending on model and variant, however, all products across the range will be affected, the company said in a statement.
Hinduja group flagship firm Ashok Leyland on Friday said it will hike prices of its commercial vehicles range by up to 3 per cent on its entire range from January 2025 to partially offset the impact of inflation and higher commodity prices.
The extent of price increase will vary depending on model and variant, however, all products across the range will be affected, the company said in a statement.
Inflation and higher commodity prices have necessitated this price increase, it added. This move will help mitigate a part of the input cost impact, the company said.
On Thursday Tata Motors had said it will increase prices of its trucks and buses portfolio by up to 2 per cent from effective January 1, 2025, citing rising input costs.
Already passenger vehicle makers, including Maruti Suzuki, Hyundai Motor India and Tata Motors, along with luxury carmaker Mercedes-Benz, BMW and Audi have announced that they would increase the price of their vehicles from January.
The scrip fell as much as 1.85% to Rs 225.74 apiece. It later recovered to trade 0.04% higher at Rs 230.10 apiece, as of a.m. This compares to a 0.38% advance in the NSE Nifty 50 Index.
It has risen 32.05% in the last 12 months. Total traded volume so far in the day stood at 1.5 times its 30-day average. The relative strength index was at 54.
Out of 46 analysts tracking the company, 34 maintain a 'buy' rating, four recommend a 'hold,' and eight suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an downside/upside of 9%.
