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Mahindra Contemplating Price Hike For Passenger Cars & LCVs
Mahindra & Mahindra plans to hike prices on some of its passenger and small commercial vehicles by one percent from October 1, 2016. The automaker is partially increasing the prices to offset the rising input costs.
There is no confirmation of the vehicles which will witness a price increase; however, this could include models like Scorpio and Xylo. The homegrown company based out of Mumbai sells arange of utility vehicles (UVs) which ranges from the KUV100 to the premium SUV SsangYong Rexton.
The company also sells small commercial vehicles like the Imperio and Jeeto which are priced in the range of Rs 1.82 lakh to Rs 7 lakh (all ex-showroom prices).
Earlier, Hyundai Motor India too announced a price hike by up to Rs 15,000 across its portfolio from August 16, 2016, to offset the rising operating costs and the impact of the rupee.
India's largest carmaker, Maruti Suzuki had announced a similar price hike on its models by up to Rs 20,000 earlier this year. The price hike was for its SUV Vitara Brezza of Rs 20,000 and the Baleno premium hatchback price was increased by Rs 10,000.
On other select range the price increase ranged between Rs 1,500 and Rs 5,000.
