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Our Bureau

Mumbai, May 9 SUV major Mahindra & Mahindra hiked vehicle prices on Friday in the range of 1.5 per cent to 2.5 per cent. This will result in the Mahindra vehicles becoming costlier by Rs 3,450 to Rs 21,000. “The price hike will be effective from May 19. This has been necessitated by a significant increase in input costs,” said a release from the company.

Mahindra has announced the price hike at a time when the steel manufacturers had agreed to reduce the price of steel, the main raw material for manufacturing vehicles.

The company is understood to be sceptical about the impact of the reduction of steel prices.

“The steel manufacturers have said that the reduction of steel prices was subject to certain conditions. They are waiting for some favourable decisions from the Government. Therefore, we are not sure if the input cost will actually come down,” said a company official.

The company has not given the variant-wise break up of the price revision. However, the official sources indicated that the high-end variants of Scorpio and Bolero will be costlier than the other models.

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M&M vehicles set to turn costlier

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