Mahindra & Mahindra will be increasing prices across its passenger and commercial vehicle range from April 1, 2019, the company has announced in a statement. The price increase will by 0.5 – 2.7 per cent, which translates into a hike between ₹ 5,000 and ₹ 73,000 across the models. The hike has been attributed to the rise in commodity prices. The automaker did say that while it made efforts to reduce costs, it has not been possible to hold back the price increase.
Speaking on the price hike, Mahindra & Mahindra – President Automotive Sector, Rajan Wadhera said, “This year has seen record high commodity price increases. Further there are regulatory requirements effective April 1st that have also led to cost increases. Consequently we are taking a price increase from April 1, 2019.”
It’s not clear at present if the newly launched Mahindra XUV300 is also affected by the price hike. That said, Mahindra joins the bandwagon of automakers to have announced price hikes for the new financial year. Previously, Tata Motors, Toyota Kirloskar Motor, Kawasaki and Renault have all announced a price increase across their range or on specific vehicles.
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