Mahindra & Mahindra has increased the price of its entire model range by 2.5%
New Delhi:
Mahindra & Mahindra on Thursday said it has increased the prices of its entire model range by 2.5 per cent with immediate effect.
This will result in an increase of Rs 10,000 to Rs 63,000 on ex-showroom prices, depending on the model and variant, the domestic auto major said in a statement.
Price revision is the result of continuous increase in the prices of major commodities like steel, aluminium, palladium etc.
“The company has taken necessary initiatives to partially offset the unprecedented rise in commodity prices to absorb the impact, passing a minimum percentage of the increase in cost to customers through price revision,” M&M said.
The company, which sells models such as the Thar and XUV700, is working with its sales and dealer network to appropriately inform the customers about the new prices.
Earlier this month, the country’s largest carmaker Maruti Suzuki India (MSI) also announced a hike in prices of its entire model range amid rise in input cost. The company has not yet disclosed about the price hike.
In the past one year, the cost of vehicles of the company continued to be adversely affected due to increase in various input costs, MSI had mentioned in a regulatory filing.