Skip navigation
Newswire

TELCO to raise car prices soon-official

MADRAS, India, July 23 (Reuters) - India's largest truck maker Tata Engineering and Locomotive Company (TELCO) said on Tuesday it plans to raise prices of its Indica car shortly.

Rajiv Dube, vice-president of the company's car unit, told reporters the price rise was due to an increase in input costs.

"We have reached a point where we are no longer able to negate the increase in the cost of inputs. There is pressure on us to increase prices and we will be doing so in the very near future," he said.

Dube said TELCO would sell over 100,000 cars and utility vehicles in the Indian market in 2002/03 (April-March) against 89,000 in the previous financial year.

He said TELCO would launch a sedan version of the Indica in the October-December quarter.

Dube was speaking on the sidelines of a function to hand over an Indica car to racing car driver Narain Karthikeyan, who is sponsored by the Tata group, TELCO's founders.