Hinduja flagship firm Ashok Leyland today said that it will increase the prices of its commercial vehicles across models by 1 per cent within a month.

“We will increase prices by 1 per cent across models in a month,” the company Managing Director, Mr Vinod K. Dasari, said here on the sidelines of an AIMTC event here.

While he did not specify the reasons for the proposed price hike, automobile companies have in the recent past been faced with high raw material and input costs.

Asked about sales growth projections for this fiscal, he said: “We foresee 5-7 per cent growth in domestic sales this year.”

During April-September, the company’s domestic sales stood at 37,136 units, down 10.94 per cent vis-a-vis the year-ago period.

Meanwhile, the company’s scrip was being quoted at Rs 24.80 per share during afternoon trade on the Bombay Stock Exchange, up 0.40 per cent from the previous close.