Further, the hike will be applicable across the entire range of commercial vehicles, it said.
The commercial range includes Tata Ace, Tata Intra, Tata Winger among other popular models.
Tata Motors had earlier confirmed that prices will increase, including for electric vehicles. A company spokesperson said, “We are considering a price hike across our passenger and electric vehicles in January. The extent of the hike and exact details will be announced in a few weeks.”
Earlier this month, Mahindra & Mahindra announced its decision to raise prices for both passenger and commercial vehicle models, effective from January 2024 stating this as a strategic move in response to the mounting challenges posed by inflation and the surge in commodity prices impacting the automotive sector.
Honda Cars India also plans to increase prices of its vehicles from January in order to partially offset the impact of riding input costs, news agency PTI reported. The Japanese carmaker sells three models, Elevate, City and Amaze, in the Indian market.Luxury car dealer Audi has also announced a hike of 2 per cent and Mercedes-Benz, too, is mulling raise prices.