Mercedes-Benz India was the first manufacturer to announce a price hike across its range followed by Isuzu Motors India. Both manufacturers have announced that the price hike will come into effect from January 01, 2017. Now Mahindra & Mahindra is the latest manufacturer to join the price hike bandwagon.
In an interview with PTI, Pravin Shah, chief executive (auto division), Mahindra & Mahindra, said that the prices of their passenger vehicle range will increase by around Rs 3,000-26,500 depending on the model. He also stated that the company would be increasing the prices of its commercial vehicles by 0.5 to 1.1 per cent. On its small commercial vehicle range of up to 3.5 tonnes, the price hike would be in the range of Rs 1,500-6,000.
The revised prices will come into effect from the beginning of 2017. The company has attributed the price hike to the escalations in input costs. "Besides, cost of fuel has also gone up leading to an increase in freight costs. Also, there has been an impact of changing regulatory requirements," added Shah.
Recently, Mahindra in association with MSRDC and SaveLife foundation had launched the 'Safety Under 80' campaign to create an awareness about the dangers of speeding on the Mumbai-Pune Expressway. They've also planned to bring down the number of fatalities on the stretch to zero by 2020 from the current annual average of 130.