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Auto major Mahindra & Mahindra has raised the prices of its entire range of vehicles by up to Rs 15,000 from last week.
“We have hiked the prices last week by 1.5 to 2 per cent on all our vehicles due to higher commodity costs,” the Mahindra and Mahindra President (Automotive and Farm Sector), Mr Pawan Goenka, told reporters here today.
The price hike will vary between Rs 7,000 and Rs 15,000 on different models, he added.
The company sells utility vehicles like Scorpio and Bolero along with three-wheeler commercial vehicles. It also manufactures and sells sedan Logan.
This is the second price increase taken by the company in 2011. Earlier in January, it had raised vehicle prices by about 1.5 per cent.
From April 4 onwards, the country’s largest car maker Maruti Suzuki India (MSI) has also increased the prices of its vehicles across all models between Rs 1,100 to Rs 9,000 for similar reasons. The company has undertaken a price hike ranging between 0.2 per cent and 2.4 per cent.
The auto industry has been under pressure due to rising input costs and Tata Motors has already hiked the prices of its passenger vehicles by up to Rs 36,000 from April 1. Hyundai Motor India is also mulling taking a similar step.
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