The Indian automaker Mahindra is all set to increase the prices of some of its passenger and commercial vehicles up to 1% from next month due to the rising manufacturing costs.
The company is yet to finalise the models of which the price would be increased, but one can simply expect the models like Scorpio and Xylo would face the price hike. The company sells passenger vehicles from low priced KUV 100 upto premium SUV Ssangyong Rexton. The company also has quite a bit of share in the commercial segment thanks to their light commercial vehicles such as Jeeto and Imperio.
According to the Chief Executive of Mahindra and Mahindra (Auto Division) Pravin Shah, the company is increasing the price of some of passenger cars and light commercial vehicles from 1st October to compensate the increasing cost of operations.
Recently Mahindra has launched a new version of their immensely popular SUV Bolero, which is named as the Bolero power+. The new iteration of Bolero is powered by a smaller 1.5 liter diesel mill which produces 71ps of power and 195nm of torque. On the exterior, the new SUV is a bit smaller thanks to its smaller bumpers which has helped the SUV to stay under 4 meters just to gain tax exemptions. Other than these changes, the new Bolero Power+ remains same as the older car.
M&M has recently discontinued its hatchback named the Verito Vibe which was quite unsuccessful in the market due to far better rivals of its segment.
Earlier this year Hyundai has hiked the price of its cars across the range by up to Rs. 15,000 due to the rising manufacturing costs and rupee depreciation. India’s biggest passenger car manufacturer Maruti Suzuki has also increased the price of some of its cars by up to Rs. 20,000.