Mahindra Hikes Prices By 2.5% From April 14
Highlights
- Prices hiked by up to Rs. 63,000.
- Mahindra cites rising input costs as reason for hikes.
- New prices applicable from April 14.
In a statement, the carmaker said, “The price revision is the result of continuous increase in prices of key commodities such as steel, aluminium, palladium, etc. 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.”
Also read: By 2030, 50% Of Passenger Cars Sold In India Will Be EVs, Says Mahindra MD & CEO Anish Shah
Mahindra joins Maruti Suzuki, Toyota, Audi and BMW on the list of manufacturers hiking prices from April. While Toyota, BMW and Audi prices with effect from April 1 by fixed percentages, Maruti Suzuki did not reveal any quantum of hike in prices.
Also read: Auto Sales March 2022: Mahindra's Passenger Vehicle Sales Grow 65% YoY, At 27,603 Units
In the coming months, Mahindra is expected to launch some new models in India including the long-awaited new Scorpio. The all-electric XUV300 - showcased as a concept at the last Auto Expo - is expected to follow by the end of the current financial year.
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