- Mahindra increase the price of passenger and commercial vehicle by upto 2.7%
Mahindra & Mahindra Ltd. (M&M), announced that it increase the prices of the passenger as well as commercial vehicles in a range of 0.5 percent to 2.7 percent. The range will result in a hike of Rs 5,000 to Rs 73,000, across its products. The increase in prices will be effective by April 1, 2019. The homegrown carmaker also said that the company has been putting efforts to reduce its cost, but the commodity prices are going high that it is next to impossible to hold back the price hike.
Speaking on this, Rajan Wadhera, President Automotive Sector, M&M Ltd., “This year has seen record high commodity price increases. Further there are regulatory requirements effective April 1st that have also led to cost increases. While we have made efforts to reduce our costs, it has not been possible to hold back the price increase. Consequently we are taking a price increase from April 1, 2019.”
Mahindra recently launched the XUV300 SUV in India and it is still not clear, whether the prices of the said model will also witness a price increase. That apart, with the new financial year nearing, many car manufacturers like Tata Motors, Renault and Kawasaki already announced the price hike across their product portfolio and some have also mentioned about the selected models (in this case Renault Kwid).