Increase in prices is a result of rising commodity rates
- Price hike will be effective from 1 April 2019.
- Increase in cost will range from Rs 5,000 to Rs 73,000.
- Mahindra has no plans of bringing ICE-powered sedans in the foreseeable future.
Come April 2019, Mahindra will hike the prices of its entire vehicle portfolio by 0.5 to 2.7 per cent. The company says the increase in price comes as a result of rising commodity prices and “regulatory requirements” which will come into effect from 1 April. It says the price hike will range from Rs 5,000 to Rs 73,000 and will be applicable for commercial vehicles as well. Currently, there are no detailed break ups of the price hike of any specific vehicle.
Mahindra had announced that it plans to focus on making SUVs and won’t be bringing in any new sedan with either petrol or diesel power. Currently, Mahindra has eight SUVs in its portfolio that clash with four segments of sedans starting from Dzire to the Skoda Octavia. The only Mahindra sedan on sale as of now is the Verito. It’s available with a diesel and electric powertrain.
Here’s Mahindra’s official press release for more details:
Mahindra XUV500, Scorpio & Other SUV Genuine Spare Parts To Be Sold Online
Mahindra announces price hike of 0.5% – 2.7%, effective 1st April 2019
Mumbai, March 28, 2019: Mahindra & Mahindra Ltd. (M&M), part of the USD 20.7 billion Mahindra Group, today announced that effective 1st April, 2019, the price of its range of personal and commercial vehicles will increase by 0.5 – 2.7%, resulting in an increase of Rs 5,000 – Rs 73,000, across its models.
According to Rajan Wadhera, President Automotive Sector, M&M Ltd., “This year has seen record high commodity price increases. Further there are regulatory requirements effective April 1st that have also led to cost increases. While we have made efforts to reduce our costs, it has not been possible to hold back the price increase. Consequently we are taking a price increase from April 1, 2019.”
Source – Cardekho.com