Tata Motors Ltd. has hiked prices of buses and trucks by up to 2% this month because of rising input costs, a company spokesman told Reuters on Monday.

"We have increased prices because of higher costs of steel and tyres," the spokesman reportedly said adding the increase would only partially offset the growing costs.

Reuters noted that the company kept its car prices unchanged.

Earlier this month, Tata Motors reported sales of buses and trucks had risen 40% in September, the report added.