Mahindra & Mahindra on Thursday said it has increased 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 the ex-showroom prices across the range, depending upon the model and the variant, the home-grown auto major said in a statement.
The price revision is the result of a continuous increase in prices of key commodities such as steel, aluminium, palladium, etc, it added.
“The company has taken necessary initiatives to partially offset the unprecedented hike in commodity prices to absorb the impact, passing a minimal percentage of cost increase to customers through a price revision,” M&M noted.
The company, which sells models like Thar and XUV700, is working with its sales and dealer network to communicate the new prices to the customers appropriately, it added.
Earlier this month, the country’s largest carmaker Maruti Suzuki India (MSI) has also announced an increase in prices of its entire model range amid rise in input costs. The company is yet to come out with the quantum of the price hike.
Over the past year, the cost of the company’s vehicles continued to be adversely impacted due to increase in various input costs, MSI had noted in a regulatory filing.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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Mahindra & Mahindra on Thursday said it has increased 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 the ex-showroom prices across the range, depending upon the model and the variant, the home-grown auto major said in a statement. The price revision is the result of a continuous increase in prices of key commodities such as steel, aluminium, palladium, etc, it added. “The company has taken necessary initiatives to partially offset the unprecedented hike in commodity prices to absorb the impact, passing a minimal percentage of cost increase to customers through a price revision,” M&M noted. The company, which sells models like Thar and XUV700, is working with its sales and dealer network to communicate the new prices to the customers appropriately, it added. Earlier this month, the country’s largest carmaker Maruti Suzuki India (MSI) has also announced an increase in prices of its entire model range amid rise in input costs. The company is yet to come out with the quantum of the price hike. Over the past year, the cost of the company’s vehicles continued to be adversely impacted due to increase in various input costs, MSI had noted in a regulatory filing.(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.) Dear Reader, Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. We, however, have a request. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed. Support quality journalism and subscribe to Business Standard. Digital Editor