Eicher Motors Ltd , which has of late been following an aggressive pricing strategy, sees no further price hike in the near term, as it believes commodity prices have started moderating, its chief executive told Reuters on Tuesday.

"Most commodity prices are flattening out, if not reducing slightly. All important commodities like steel, aluminium are flattening out," Siddhartha Lal said over the telephone.

Many Indian vehicle makers have been forced to hike prices recently as they had to pass on the burden of rising commodity prices to consumers, in a bid to maintain their margins.

Eicher will also invest Rs 800-900 crore over the next two years, as part of an aggressive expansion plan, Lal said.