Mahindra & Mahindra Ltd, one of India's largest homegrown automobile manufacturers, has announced a 2.5 per cent price increase across its entire product line. This will result in a rise in ex-showroom pricing ranging from Rs. 10,000 to Rs. 63,000, depending on the model and version. The increase will take effect on April 14, 2022.
Price revisions, according to Mahindra, are the result of ongoing price increases in critical commodities such as steel, aluminium, palladium, and other metals. The company has taken the required steps to partially offset the unprecedented increase in commodity costs by passing on a portion of the cost increase to customers through a pricing increase.
The automaker primarily offers SUVs in India like Mahindra Scorpio, Thar, and XUV700, among others. Earlier, other automakers like Maruti Suzuki, Toyota, Mercedes and BMW also announced a price hike for their model range in India.
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To offset the impact of growing input costs, Toyota Kirloskar Motor hiked prices across the board by up to 4% starting April 1. BMW India has also increased product pricing by up to 3.5 per cent as of this month. Other luxury carmakers, such as Audi and Mercedes-Benz, have raised prices as of April 1.
The aforementioned automakers cited similar reasons for the increased prices of their vehicles in India.
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