Mahindra & Mahindra is planning to increase the prices of its passenger and commercial vehicles from October 1. The company will hike the prices by up to 1 percent to partially offset the rising input costs.
"We are contemplating to hike prices of some of our passenger and small commercial vehicles by up to 1 per cent from October 1 to partially compensate increased cost of operations," Pravin Shah, M&M chief executive (Auto Division) told PTI. Mahindra is yet to finalise the vehicles models that will see a price hike, but Shah hinted that the revision would be applicable to Scorpio and Xylo.
Mahindra & Mahindra sells passenger vehicles from KUV100 to XUV500 in India in the price range of Rs 4.5 lakh to Rs 18 lakh. The carmaker also sells Rexton from its South Korean sub-brand SsangYong. The light commercial vehicle range of Mahindra includes models such as Imperio and Jeeto, priced between Rs 1.82 lakh to over Rs 7 lakh.
In the beginning of September, Honda Car India hiked prices of its entire range of vehicles from Rs 6,300 to Rs 14,250 depending on the model. Earlier in August, India's largest carmaker Maruti Suzuki and second largest Hyundai had hiked the prices of their vehicles. Maruti Suzuki hiked the prices in the range of Rs 1,500 to Rs 20,000 that include popular models such as Baleno and the Vitara Brezza. Hyundai had increased the prices by up to Rs 20,000 for its entire range. Renault India increased price of its most selling model, the Kwid in August. The Kwid prices were increased from Rs 4,766 to Rs 9,646, ex-showroom Delhi.