Mahindra & Mahindra today announced that it would be raising the prices of its passenger as well as its commercial vehicle range. This increase would be in the range of Rs 3000 to Rs 8000 depending on the model and will be effective from October 1, 2010. The increase is primarily due to the higher raw-material costs as well as the new Bharat Stage III emission norms.
Announcing the new prices, Mr Rajesh Jejurikar, Chief Executive, Automotive Division, Mahindra & Mahindra said, "We have been holding back this raise for a while but now it has become imperative to raise prices especially as the prices of raw materials have been on the rise. In addition, the new Bharat Stage III emission norms have also resulted in this price hike. As always, Mahindra remains committed to its customers".
