Automobile manufacturer Ashok Leyland today announced that it will raise prices of all vehicles in its range by a minimum of 2 percent.
The proposed price increase is said to be effective by April 1, 2018.
The company, a flagship of the Hinduja Group, stated in a press release that the increase in prices is due to rising input costs and implementation of AIS 140 regulations.
AIS 140 are a set of regulations whose main objective is to improve safety of passenger vehicles. The guidelines require all buses to be fitted with a GPS tracking system, camera surveillance and an emergency button. This will improve the outreach of communication in the event of any mishap.
The norms apply to existing vehicles as well as any future ones being manufactured. The government has directed all vehicle manufacturers to comply with these regulations by April 1, 2018.moneycontrol