Mahindra Announces Price Hike From August 2018
Mahindra and Mahindra has announced that it plans to increase prices of its passenger vehicles by up to Rs. 30,000. The hike in prices is about 2 per cent and the revised price will be effective August 2018. Mahindra is not the first carmaker to announce a price hike from August. Hyundai, Honda, Tata Motors too have announced a similar hike in price of their products.
Rajan Wadhera, President - Automotive Sector, Mahindra & Mahindra Ltd. said, "With the ongoing increase in commodity prices we plan to take a price hike of up to 2% in some models."
The company is now going to launch an MPV this year and has plans to come up with two electric cars in 2019. Mahindra has been showing gradual growth in sales and has recently launched the TUV300 Plus. The company is all set to bring in new cars which will help it gain traction in the SUV segment as well as it is poised to bring in another compact SUV which is code named S201 by 2019, after which it will bring in a bigger SUV based on the new-gen Rexton.
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