MUMBAI, Apr 15 (NNN-PTI) – India’s conglomerate Mahindra Group, announced a price hike of 2.5 percent for its range of vehicles, spread from 10,000 to 63,000 rupees on its ex-showroom prices, the company informed the Bombay Stock Exchange yesterday.
The price revision is the result of continuous increase in prices of key commodities, such as, steel, aluminium, palladium, etc, said the statement by the company.
The company has taken necessary initiatives, to partially offset the unprecedented hike in commodity prices, to absorb the impact, while passing a minimal percentage of cost increase to customers through a price revision, it said.
Earlier this month, India’s largest car manufacturer by sales volume, Maruti Suzuki said, it will raise prices this month, due to rising input costs, without disclosing the quantum of price increase.
Another leading Indian auto manufacturer, Tata Motors, had increased vehicle prices by 2.0 to 2.5 percent effective Apr 1, across its various models and variants.– NNN-PTI
