Friday, September 20, 2013

Tata Motors plans to raise prices by up to 1.5%

Mumbai: 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.
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