Mahindra to hike vehicle prices from next month

Home-grown auto major Mahindra & Mahindra on Wednesday said it will increase the prices of its passenger and commercial vehicles from next month.

The company said it was raising prices due to increased costs. The auto major said it has made efforts to absorb as much of these additional costs as possible. However, a portion of this increase will be passed on to customers.

The extent of the price increase will vary across different SUVs and commercial vehicles, the company added.

The Mahindra & Mahindra decision comes close on the heels of Maruti Suzuki’s announcement last week to hike the prices of its cars from January 2024. The country’s leading carmaker said it has decided to increase car prices due increased input costs.

“While the company makes maximum efforts to reduce costs and offset the increase, it may have to pass on some increase to the market,” Maruti Suzuki had said.