Commercial vehicle maker Ashok Leyland today said it will increase prices of its entire product portfolio by a minimum of 2 per cent from next month to partially offset the impact of rising input costs.
The company would be increasing prices of its entire range of vehicles by a minimum of 2 per cent, the Hinduja group flagship firm said in a statement.
“This increase in price is owing to rising input costs and implementation of AIS 140 regulation. The proposed price increase will be effective April 1, 2018,” it added.
Auto makers are required to install a tracking device and emergency buttons in new and existing public service vehicles from April 1, 2018 under the AIS 140 regulation.
Ashok Leyland sells a range of commercial vehicles including trucks and buses.
Last week, Tata Motors and Nissan India had announced a hike in prices of their models from next month.
German luxury carmaker Audi has also announced to hike prices in the range of Rs 1-9 lakh, effective April 1, to pass on the impact of increased customs duty in the budget.