Ashok Leyland to hike CV prices

Jun 30, 2010 |

New Delhi

Hinduja Group flagship company Ashok Leyland, on Tuesday announced a price hike of its entire range of commercial vehicles by up to Rs 50,000 on account of rising input costs with immediate effect.

“This price hike has been necessitated to partially recover the increase in the price of raw materials like steel, tyres, castings,” the company said in a statement.
The company has increased the prices of its medium and heavy commercial vehicles by about three per cent with immediate effect, it added.
This hike will translate into a rise of its product prices between Rs 20,000 to Rs 50,000, the statement added.
This is the fourth round of hikes seen in the automobile prices since January this year, and other auto firms such as General Motors, Ashok Leyland and Bajaj are also planning to increase their rates to offset the pressure from rising input costs, mainly that of steel and tyres.
Auto makers had earlier already hiked their prices following a two per cent excise duty hike in the Union Budget and the third after the introduction of the new emission norms.
—PTI

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