Mahindra has announced that it has increased prices of its passenger and commercial vehicles by around one percent in the Indian market. The revision in prices will make the vehicles dearer by Rs. 2,300 to Rs. 11,500 (ex-showroom) depending upon the model. The new prices are effective immediately.
"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." said Pravin Shah, chief executive, Automotive Division & International Operations (AFS), Mahindra & Mahindra Ltd.
Rising input costs being a problem that plagues all carmakers, it will not be a surprise to see similar announcements from other companies too.
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