Mahindra & Mahindra Ltd., one of India’s leading automotive companies, announced a price hike of 2.5% on its range of vehicles. This will result in an increase of Rs. 10,000 to Rs. 63,000 on the ex-showroom prices across the range, depending upon the model and the variant. The price hike will be effective from April 14, 2022.
The price revision is result of continuous increase in prices of key commodities such as steel, aluminium, palladium, etc. The company has taken necessary initiatives to partially offset un-precedented hike in commodity prices to absorb the impact, passing a minimal percentage of cost increase to customers through a price revision. The company is working with its sales and dealer network to communicate the new prices to their customers appropriately.