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Mahindra Increases Car Prices By 2 Per Cent
Vivek Nayar, Mahindra's Senior vice president (Marketing) said: “Margins have been a concern as raw material costs have been rising. Therefore, we had to raise prices last month by 1.5-2 per cent." The price hike will be enforced across the model range making the Bolero, Scorpio, Xylo and Verito more expensive.
This is not the first time that Mahindra has increased prices of its cars this year. It had hiked prices of its models by 1.5 per cent in January and followed it with another 1.5 to 2 per cent hike in April.
Mahindra is confident the price hike will not adversely affect its sales. Rather it is optimistic its sales will increase further. Mr Nayar said: “We are cautiously optimistic. The last two months have been good."
Mahindra has reported its sales in August increased by 31.09 per cent to 35,756 units. It had also posted a 41.90 per cent increase in sales in July after selling 37,323 vehicles.
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