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Mahindra & Tata Motors Likely To Increase Prices From April
Only yesterday we learn't that Honda Cars India would increase prices of its vehicles from April 1st. Would that be an April fool's day joke because only a few weeks back most car and two wheeler manufacturers reduced prices, following drop in auto taxes.
Unfortunately, the chances of it being a harmless joke is unlikely. To add to the bad news, it now turns out it is not just Honda, but also Mahindra and Tata Motors who are seriously considering a price hike.
Related: Honda Cars India To Increase Prices From April 1st
"We are actively contemplating increasing the prices of our vehicles in April due to increase in input and operational costs," Mahindra & Mahindra Chief Executive (Automotive Division) Pravin Shah told PTI.
Shah said that they have not yet decided from when and by how much prices of models will go up, though it will definitely be done in April.
Tata motors on the other hand has said, it may initiate a price hike in the range of 1 and 2 percent, also from April.
The reason being given is the same as always, which is to offset increasing operational and manufacturing costs.
Except for Tata Motors, both Honda and Mahindra had dropped prices last month by as much as Rs 45,000 to Rs 49,000 respectively, depending on the model.
