Tata Motors Passenger Vehicles Ltd.

Tata Motors, country’s largest vehicle maker has raised prices of its commercial vehicles (CV) by Rs 5,000-60,000, with effect from March 17, 2012, due to 2% increase in the excise duties in this year's Budget. The company is likely to increase the price by 2-5% across its CV range.

As the dealers are having old stocks, the new prices are likely to be charged to customers in four-six weeks. The company’s near-term sales are expected to be affected by the higher prices, but as was seen with the successive increases last year, vehicle sales may not come down in the year.

The company is aiming 18-19% rise in CV sales in 2011-12. The company had also increased prices of its passenger vehicles range by up to Rs 35,000 last week.