Tata Motors plans to raise prices by up to 1.5 pct
MUMBAI, Sept 20
MUMBAI, Sept 20 (Reuters) - Tata Motors Ltd, India's largest automaker by revenue, is looking to raise prices by 1 percent-1.5 percent 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 4,000 rupees to 20,000 rupees ($320) 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.
- Housing, jobs data weaken, but overall economic picture still upbeat
- Target cyber breach hits 40 million payment cards at holiday peak |
- UPDATE 3-Saab wins Brazil jet deal after NSA spying sours Boeing bid
- 'Duck Dynasty' anti-gay fallout sparks debate on religion, tolerance
- Zuckerberg to sell Facebook shares worth about $2.3 billion |