M&M to raise vehicle prices due to high commodity rates

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Mumbai, March 28 (IANS) Automobile major Mahindra and Mahindra (M&M) on Thursday announced a price hike, in the range from Rs 5,000 to Rs 73,000, across all its models, effective from April 1.

“Mahindra & Mahindra (M&M)… today announced that effective 1st April, 2019, the price of its range of personal and commercial vehicles will increase by 0.5-2.7 per cent, resulting in an increase of Rs 5,000-Rs 73,000, across its models,” the company said in a regulatory filing.

Rajan Wadhera, President Automotive Sector, M&M, said: “This year has seen record high commodity price increases. Further there are regulatory requirements effective April 1 that have also led to cost increases.

“While we have made efforts to reduce our costs, it has not been possible to hold back

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the price increase. Consequently we are taking a price increase from April 1, 2019.”

–IANS

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