Mahindra has announced a price hike of up to Rs 30,000, or 2 per cent, effective from August 1, 2018. Although Mahindra is yet to announce which of its models will receive a price hike, it has stated that it will be effective only on certain models from its passenger vehicle lineup. The carmaker has cited an increase in the prices of commodities as the reason behind the move.
The latest announcement comes just a day ahead of the carmaker revealing the official production name of its upcoming MPV codenamed the U321. If reports are to be believed, the MPV is likely to be called the ‘Marazzo’. The 7-seat MPV will rival the likes of the Maruti Suzuki Ertiga and Renault Lodgy. That said, its top-spec variants could even take on certain variants of the popular Toyota Innova Crysta.
Mahindra is not the only carmaker to announce a price hike for the coming month. Earlier in July, Honda and Hyundai also announced a price hike with effect from August 1, 2018. Whereas the Japanese carmaker is set to increase prices of its models by Rs 10,000 to Rs 35,000, Hyundai will hike the prices of the Grand i10 by 3 per cent (upto Rs 23,000). Both carmakers have cited higher input costs as the reason behind the price revision.
Press Release
Mahindra to hike prices by up to 2% from August 2018
July 30, 2018, Mumbai: Mahindra & Mahindra Ltd. (M&M Ltd.), a part of the USD 20.7 billion Mahindra Group, today announced that it plans to increase prices of its passenger vehicles by up to Rs. 30,000 or 2%. This will be effective August 2018.
Commenting on the price hike Rajan Wadhera, President - Automotive Sector, Mahindra & Mahindra Ltd. said, “With the ongoing increase in commodity prices we plan to take a price hike of up to 2% in some models.”
Source: cardekho.com
