Ashok Leyland to hike prices by 1%

Hinduja flagship firm Ashok Leyland today said it will increase the prices of its commercial vehicles across models by 1% within a month.

"We will increase prices by 1% across models in a month," Ashok Leyland Managing Director Vinod K Dasari said here on the sidelines of an AIMTC event here.

While he did not specify the reasons for the proposed price hike, automobile companies have in the recent past been faced with high raw material and input costs.

Asked about sales growth projections for this fiscal, he said: "We foresee 5-7% growth in domestic sales this year."

During the April-September period, the company's domestic sales stood at 37,136 units, down 10.94% vis-a-vis the year-ago period.

Ashok Leyland's scrips were being quoted at Rs 24.80 per share during afternoon trade on the Bombay Stock Exchange, up 0.40% from their previous close.