The country’s largest utility vehicle maker, Mahindra & Mahindra has announced to hike the price of its portfolio vehicles in the Indian market across all models by up to Rs 15,000. The new prices are effective with immediate notice. Before this, the company had increased the price of its vehicles by 1.5 percent in the month of January 2011.
Speaking to the reporters on the matter in the National Capital, Mahindra and Mahindra President (Automotive and Farm Sectors) Pawan Goenka said, "We have hiked prices last week by 1.5 to 2 per cent on all our vehicles due to higher commodity costs." He added that the prices of Mahindra vehicles have been hiked in the range of Rs 7,000 to Rs 15,000 on different models.
Besides selling some of the most popular Sports Utility Vehicles (SUV) in the country such as Mahindra Scorpio and Bolero, the company also manufactures three-wheeler commercial vehicles, two-wheelers and entry-level sedan Logan.
Meanwhile, the leading Indian car makers including Maruti Suzuki and Tata, have already increased the price of their cars in the Indian market. Maruti has raised the price of its cars in the range of Rs 1,000 to Rs 9,000. Tata Motors has hiked the price of its cars by up to Rs 36,000, naming similar reasons.
