Tata Motors on 29 March 2012 increased the prices of its commercial vehicles (CV) by 5000 rupees to 60000 rupees. The decision to hike the prices of commercial vehicles came in the wake of the two per cent increase in the excise duties in this year's Budget. The new prices are effective from 17 March 2012.
Tata Motors, which had also increased prices of its passenger vehicles range by up to 35000 rupees last week, expects 18-19 per cent rise in CV sales in 2011-12.
Union Finance Minister in his budget proposals for 2012-13 had announced to increase the excise duties on cars by two per cent. The move forced the motor companies to increase the prices of their product range.
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