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Tata Motors to raise commercial vehicle prices by 2% to offset continued rise in commodity costs

Tata Motors Ltd. disclosed Tuesday that it will raise prices of its commercial vehicles by about 2%, starting Oct. 1. The India-based auto maker said the price increases are to help offset a continued rise in commodity costs, such as steel and precious metals. Tata said it has tried to minimize the price increases by absorbing a portion of the increased commodity costs at various levels of manufacturing. Tata’s U.S.-listed shares were indicated up a little more than 1% in Tuesday’s premarket, after falling 5.8% amid a three-day losing streak through Monday. It has shed 12.0% over the past three months, while the S&P 500 has gained 3.2%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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