Mahindra & Mahindra has increased prices of its passenger and commercial vehicles by about one per cent. The hike would be in the range of Rs 2,300 to Rs 11,500 (ex- showroom) depending on the model, the company said in a press statement.
The price hike is effective this month.
“We have been holding back on price hikes for a while but now it has been necessitated to partly offset the impact of rising input costs,” Pravin Shah, Chief Executive, Automotive Division & International Operations, Mahindra & Mahindra, said.
Shares of M&M were up by 2.35 per cent to close at Rs 1260.65 on the Bombay Stock Exchange today.