Mahindra is likely to hike prices of its entire range of vehicles in Q1 FY21-22 and that will be brought on because of the rising commodity prices. The company had already hikes prices of the entire range in January 2021 and if a price hike is announced in the first quarter of the next financial year, it will make it the second price hike of calendar year 2021.
Speaking during a virtual press conference which announced the Q3 FY20-21 financial results, Rajesh Jejurikar, Executive Director, Auto and Farm Sector said, "We have just taken some price increase in January and unless things come under control we would probably be taking one more in Q1 of the next financial year. But that will be dependant on the market situation and we'll take a call then."
The financial year 2021-22 is an important one for Mahindra because it's planning to launch new-gen variants of the Scorpio and the XUV500 and of course, the company's electric vehicle strategy too will unfold in the coming financial year with electric avatars of the XUV300 and the KUV100 slated for launch.