Mumbai/ Delhi April 7

The automobile industry is feeling the heat of steep rise in steel price.

While Tata Motors has hiked the prices of its commercial vehicles, Mahindra Renault has raised the price of its mid-size car, Logan. Other manufacturers may follow suit.

However, small car majors Maruti Suzuki and Hyundai have retained their car prices.

“There is a 3.5 per cent hike across the entire commercial vehicle range,” confirmed the Tata Motors spokesperson.

This decision means the price of high-end Novus tractor will rise by above Rs1 lakh while the Rs 15.5-lakh muti-axle truck will be costlier by over Rs 50,000. The popular mini truck Ace will be costlier by around Rs 10,000. Tata Motors had recently slashed the prices of commercial vehicles by 2 per cent post-Union Budget.

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