01/07/2008 05:52. MILAN (Thomson Financial) - Fiat SpA's commercial vehicle unit Iveco said it is raising the list prices of its heavy truck range, with a 2.5 percent hike applied in the Italian market, effective from Tuesday.

The price rise is to take account of higher raw material costs, Iveco said. Last week, Fiat (nyse: FIA - news - people )'s heavy machinery unit CNH Global NV (nyse: CNH - news - people ) imposed a 5 percent surcharge on its base prices.

Iveco said its price hike strategy will apply 'to all markets, with different timeframes and modalities, depending on local commercial strategies'.

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First News Article: Interactive Investor, 01/07/2008 04:47