Tata Motors ups CV prices by 3.5%

Tata Motors has raised prices of its commercial vehicles by up to 3.5 per cent effective April 1. "We had no other option but to raise our prices, as raw material costs have hit the roof," a spokesman said.

Prices of steel, the primary raw material for making vehicles, have risen about 20-25 per cent in the last three months.

Meanwhile, Mahindra Renault has raised prices of the diesel version of its sedan Logan by up to Rs 4,500 .

The company had raised Logan prices by up to Rs 15,000 in December.

While there has been no change in prices of the Logan's petrol version, the company has withdrawn the discount of around Rs 30,000 per unit that it offered earlier.

Last week, motorcycle makers Bajaj Auto and TVS Motor hiked prices of products, citing high input costs.

Tata Motors, Toyota Motor and other automakers have raised prices or sought to cut production costs as surging prices for raw materials crimp margins.