Mahindra to hike passenger vehicle prices by up to Rs 30,000 from August
New Delhi: Utility vehicle major Mahindra & Mahindra (M&M) said it plans to increase prices of its passenger vehicles by up to Rs 30,000 from next month in order to offset impact of rising commodity prices.
The company plans to increase the prices of its passenger vehicles by up to Rs 30,000, or 2 percent, and will be effective from August, M&M said in a statement.
“With the ongoing increase in commodity prices, we plan to take a price hike of up to 2 percent in some models,” M&M’s President Automotive Sector Rajan Wadhera said.
The company sells a range of passenger vehicles, including XUV 500, Scorpio, TUV 300 and KUV 100.
Earlier this month, Tata Motors had also announced to hike passenger vehicle prices across models by up to 2.2 percent from August to offset increased input costs.