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Hinduja Group flagship company Ashok Leyland on Tuesday announced a price hike of its entire range of commercial vehicles by up to Rs 50,000 on account of rising input costs with immediate effect.
"This price hike has been necessitated to partially recover the increase in the price of raw materials like steel, tyres, castings etc," Ashok Leyland said in a statement.
The company has increased the prices of its medium and heavy commercial vehicles by about three per cent with immediate effect, it added.
This hike will translate into a rise of its product prices between Rs 20,000 to Rs 50,000, the statement said.