Mahindra will increase prices from August

Published On: 31 July 2018 | 3174 Views

The automaker said the 2 percent hike in cost of passenger vehicles is because of a rise in commodity prices.

  • Mahindra will increase prices from August

Mahindra & Mahindra (M&M) has stated that it will increase prices of its passenger vehicles by up to Rs 30,000 or 2 percent, effective August 2018.

Rajan Wadhera, president (Automotive Sector), Mahindra & Mahindra, said, “With the ongoing increase in commodity prices we plan to take a price hike of up to 2 percent in some models.”

Based on SIAM’s quarterly review data, commodity prices are on the uptick with key raw materials, including HR steel (+3.20 percent), CR steel (+3.97 percent), pig iron (+3.41 percent) and virgin aluminium (+9.26 percent) escalating significantly between March and May 2018 – these affect manufacturing costs for Mahindra.

 

News You May Like

1,500th Safari Storme for the Army.
Published On: 27 August 2018

Tata Motors is contracted to supply 3,192 units of the GS800 Safari Storme 4x4 army-spec SUV to the Indian Armed Forces. ...

Read More
10,000 bookings for the Compass
Published On: 5 September 2017

The company has ramped up production at its Ranjangaon plant to meet demand. ...

Read More