Mahindra & Mahindra has announced a price hike across the entire passenger and commercial vehicles range, which will be effective from 1 October, 2013. The tag prices of all models will be upped by two per cent and that will lead to a hike in range of Rs 6,000 to Rs 20,000.
Mahindra is not the first manufacturer to announce the price hike before the start of the festive season. Yesterday, Maruti Suzuki made a similar announcement to hike prices by up to Rs 10,000 starting next month. Higher input costs, devaluation of the rupee and increase in raw materials costs is cited as the reason behind the decision.
Commenting on the price hike, Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. said, “We have been holding back prices for a while but now it has become necessary to raise them due to increasing input costs, devaluation of the rupee and increase in some raw material costs. As always, Mahindra remains committed to its customers."