India's largest commercial vehicle maker, Tata Motors, on Wednesday said it has no immediate plans to raise its commercial vehicles (CV) prices.
"We have no immediate plans to raise prices. We are trying to maintain margins and we have options of cost reduction," Tata Motors president Commercial Vehicle Business Unit Ravi Pisharody told reporters on the sidelines of the Tata Winger Platinum launch.
He, however, said that there is an upward pressure on prices due to rising input costs.
"There is indeed an upward pressure on input costs. We have continuous internal targets for cost reduction across the board. (But) the rising commodity prices have put more pressure on cost reduction," Pisharody said.
Rising input costs have forced several car companies to hike prices from January 1, which will help boost sales in the current month December. The sharp appreciation in the value of the Japanese yen against the US dollar has forced Japanese car companies to go in for a revision of prices.
Car-makers such as Toyota Kirloskar and Honda Siel Cars have large imported content in their cars.
Tata Motors on Wednesday launched a new offering in the Winger range, the Tata Winger Platinum, in the city. The Tata Winger Platinum is a luxurious 7-seater, designed to provide an enhanced on-road experience with a perfect blend of comfort and space.
The Tata Winger Platinum BS IV is priced at Rs 7,39,724 lakh (ex-showroom, Mumbai).
The company is currently selling 600-700 Winger vans per month. It expects to double Winger sales with the platinum model launch. The company hopes to capture a 10-15% market share, he said.
Tata Motors is also looking at launching a premium bus by March.
"We will be launching premium luxury buses by March," Pisharody said, adding that it is a small but high-value market and cost-wise it would be very competitive.