Mahindra becomes the latest carmaker to hike prices in India
India's leading SUV-maker Mahindra and Mahindra Ltd on Friday announced a price hike of up to Rs 20,000, a day after Maruti Suzuki hiked prices across all products.
And like more than half a dozen automakers before it, M&M Ltd too has attributed the price rise to rupee depreciation and higher input costs.
2013 Mahindra XUV 500 is likely to cost Rs 20,000 more
The two per cent hike in prices will come into effect from October 1, which means that the price increase will range from Rs 6,000 to Rs 20,000, depending on the model.
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."
Maruti, which has hiked prices across products by up to Rs 10,000, and Mahindra follow a long line of auto brands that have bowed down to the tough market conditions caused by the falling rupee. Other carmakers that have increased prices include Hyundai, Toyota, Tata, BMW, Audi, Mercedes and GM.
Team OD | 17 May 2018
- NewsImage gallery: 2018 Hyundai Creta facelift launched in India
- NewsMotoGP 2018: Marc Marquez delivers masterclass at Le Mans
- NewsSpecial feature: 2018 Mercedes-Benz OVERDRIVE Winter Drive
- NewsHyundai Creta facelift launched in India at a starting price of Rs 9.44 lakh (ex-showroom Delhi)
- NewsWRC 2018: Victory at Rally Portugal gives Thierry Neuville championship lead
- News2018 Lexus LX 570 flagship SUV launched in India at Rs 2.32 crore
- NewsNew Volvo S60 sedan will not have a diesel engine option
- NewsUpcoming Tata H5X SUV spotted testing again in new video
- NewsFormula E: Heidfeld scores points for Mahindra Racing at Berlin ePrix
- NewsUpcoming new-gen Hyundai Santro spotted testing in camouflage again