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Mahindra Increases Price Across Its Product Line
Mahindra, India's largest SUV manufacturing company, has announced its decision to increase the price of all models. The price hike will take effect from October 1, 2013.
Prices of vehicles, both passenger and commercial, will go up by 2 percent. This accounts to a price hike of Rs 6,000 to Rs 20,000 depending on the model.
The reason given for the price hike is the same as every other manufacturer. Increased input costs, devaluation of Indian Rupee and increased cost of raw materials.
Commenting on the price hike, Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. said, "We have been holding back prices for a while but now it has become necessary to raise them due to increasing input costs, devaluation of the rupee and increase in some raw material costs. As always, Mahindra remains committed to its customers".
Other car makers who announced price hike recently include Maruti Suzuki, Hyundai, Toyota and Tata Motors. Earlier this year, luxury car makers, Audi, Mercedes-Benz and BMW had also announced price hikes to compensate for increased tax and depreciating value of rupee.
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