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.