Tata Motors Ltd, India's largest automaker by revenue, is looking to raise prices by 1 per cent-1.5 per cent 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 Rs. 4,000 to Rs. 20,000 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.
Copyright: Thomson Reuters 2013
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