Tata Motors on Tuesday announced that it will increase the prices of commercial vehicles by up to 2 per cent from January 2023.

The company said the prices have been revised due to increased input costs.

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“The company has been absorbing a significant portion of the increased costs, but the steep rise in overall input costs has compelled it to pass on some proportion through this minimal price hike,” said the company in a statement.

Last month, Tata Motors revised the prices of passenger vehicles. Depending on the variant and model, the weighted average price of a vehicle has gone up by 0.9 per cent.