Tata Motors plans to raise prices by up to 1.5%

Price hike comes on back of higher input costs

Tata Motors Ltd , India's largest automaker by revenue, is looking to raise prices by 1%-1.5% across its range of commercial and passenger vehicles, following similar moves by rival carmakers.

The price increase comes on the back of higher input costs, a company spokeswoman said on Friday.

On Thursday, Hyundai Motor's India unit said it would raise prices by Rs 4,000 to Rs 20,000 for most of its vehicles, citing a weaker rupee and inflation. General Motors and Toyota Motor Corp have also raised prices in the country.

Rising fuel prices and interest rates in a slowing economy have hurt the Indian automobile market, and vehicle sales are expected to fall in the current fiscal year ending March 2014.