Mahindra hikes vehicle prices by 1.9%, Vehicles become costly in the range of Rs. 4500-40,000
Mumbai: Automobile major Mahindra & Mahindra (M&M) on Friday announced price hike of its range of Personal and Commercial vehicles by around 1.9% resulting in an increase of Rs 4,500 – Rs 40,000, depending on the model and variant.
“In the case of All New Thar, the current price increase will be effective for all bookings done between December 1, 2020 and January 7, 2021. All fresh bookings for All New Thar, effective January 8, 2021, will have prices as applicable on the date of delivery” the company said.
“In the case of All New Thar, the current price increase will be effective for all bookings done between December 1, 2020 and January 7, 2021. All fresh bookings for All New Thar, effective January 8, 2021, will have prices as applicable on the date of delivery” M&M.
“The price increase was necessitated due to unprecedented increase in commodity prices and various other input costs over the past many months. We have made all efforts to reduce our costs and deferred price increase for a significant duration, but due to the quantum of input cost increase, consequently we are taking this price increase effective January 8, 2021” Veejay Nakra, CEO – Automotive Division, M&M Ltd.
Mahindra Group’s farm Equipment Sector has already hiked the prices of tractors effective from 1st January 2021.