“The company has been absorbing a significant portion of the increased costs, but the steep rise in overall input costs has compelled it to pass on some proportion through this minimal price hike,” the company added.
The price increase will vary across models and variants, but will be applicable across all commercial vehicles, it said in a statement.
Shares of Tata Motors, up 1.2% at Rs 419.3 a scrip, were largely steady post the announcement.
Keyword: Tata Motors to hike commercial vehicle prices by up to 2%