Automobile manufacturer Tata Motors will increase prices across its commercial vehicle range, effective from January 1, 2021.
According to the company, the steady rise in material and other input costs, impact of forex and transition to BS6 norms, have cumulatively escalated the cost of manufacturing vehicles.
"The company had thus far been absorbing the addition in costs but with their steady rise in line with market trend, it has become imperative to pass at least some portion of the cost increase to customers via appropriate price revisions," the company said in a statement on Monday.
"The price increase is expected across the portfolio of M&HCV, I&LCV, SCV and Buses."
In addition, the company said actual change in price will depend on individual model, variant and fuel type.