Tata Motors, Maruti to hike vehicle prices

NEW DELHI, Mar 17 (Reuters): Automakers Tata Motors and Maruti Suzuki India said on Monday that they will increase the prices of vehicles to offset raw material and operational costs.

Tata Motors will hike prices of its commercial vehicles, including trucks and buses, by up to 2 per cent from April, while Maruti Suzuki said it will increase car prices by as much as 4 per cent next month.

The price bumps will vary depending on the model, the companies said.

Indian automakers are seeing higher costs due to rising commodity prices, elevated import duties on raw materials, and supply chain disruptions.

Tata Motors last increased prices of its commercial vehicles up to 2 per cent in January.

Maruti's price hike follows a 4 per cent increase in December, which took effect in January.

Maruti had also raised prices by 1,500 rupees ($17.29) to 32,500 rupees for several models last month.