Mahindra & Mahindra Gears Up for SUV Price Hike

Mahindra & Mahindra plans to increase the prices of its SUVs and commercial vehicles by up to 3% starting April, citing rising input and commodity costs. The exact hike will vary across models. Other automakers like Maruti Suzuki, Hyundai, and Tata have also announced similar price increases.

In a significant move, Mahindra & Mahindra announced on Friday that it will increase the prices of its SUVs and commercial vehicles by up to 3% beginning April. The automotive giant attributes this decision to escalating input and commodity costs, among other factors.

According to a statement from the Mumbai-based company, the price hike will not be uniform across its product range, with different SUVs and commercial vehicles experiencing varying levels of increase. This move aligns with a broader industry trend, as several other major automakers, including Maruti Suzuki India and Hyundai Motor, have also declared impending price rises due to similar cost pressures.

The announcement comes as shares of M&M closed down marginally by 1.08% on Friday, ending at Rs 2,799.30 each on the Bombay Stock Exchange. The automotive sector appears poised to adjust to these economic pressures as input costs continue to climb.

(With inputs from agencies.)