Mahindra & Mahindra has increased the price of its entire vehicle line by 2.5%
New Delhi:
Mahindra & Mahindra on Thursday said it has raised the price of its entire vehicle line by 2.5% with immediate effect.
This will result in an increase of Rs 10,000 to Rs 63,000 to the ex-factory price across the entire range, depending on model and variant, the home-grown auto giant said in a statement.
The price adjustment is the result of continued price increases of important commodities such as steel, aluminum, palladium, etc., it added.
“The company has taken the necessary initiatives to partially offset the unprecedented increase in commodity prices to cushion the impact, passing a minimal percentage of increased costs to customers through price modifications,” M&M notes.
The company, which sells models like the Thar and XUV700, is working with its sales and dealer network to inform customers of the new prices accordingly.
Earlier this month, the country’s largest car manufacturer Maruti Suzuki India (MSI) also announced a price increase of all its models amid rising input costs. The company has yet to offer a price increase.
Over the past year, the company’s vehicle prices continued to be adversely affected by the rise of various input costs, MSI noted in a regulatory filing.
