Mahindra says that prices of its models have increased in the range of Rs. 10,000 to Rs. 63,000
Mahindra has become the latest carmaker to hike prices in the month of April 2022. The carmaker announced that effective April 14, the prices of all its cars and SUVs would be hiked by 2.5%. The carmaker said that this would entail a hike of between ₹ 10,000 and ₹ 63,000 depending on the model and variant. The company said that the price hike is owing to rising prices of raw materials necessitating measures to partially offset the cost.
In a statement, the carmaker said, “The price revision is the result of continuous increase in prices of key commodities such as steel, aluminium, palladium, etc. The company has taken necessary initiatives to partially offset the unprecedented hike in commodity prices to absorb the impact, passing a minimal percentage of cost increase to customers through a price revision.”
Mahindra joins Maruti Suzuki, Toyota, Audi and BMW on the list of manufacturers hiking prices from April. While Toyota, BMW and Audi prices with effect from April 1 by fixed percentages, Maruti Suzuki did not reveal any quantum of hike in prices.
In the coming months, Mahindra is expected to launch some new models in India including the long-awaited new Scorpio. The all-electric XUV300 – showcased as a concept at the last Auto Expo – is expected to follow by the end of the current financial year.