Mahindra Implements Price Increase Across SUV and Commercial Vehicle Lineup by Up to 3%
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Mumbai, Dec 6 (NationPress) Mahindra & Mahindra officially declared on Friday a price increase for its SUV and commercial vehicle (CV) lineup, which will be effective starting January of the upcoming year.
The price increase across various SUVs and commercial vehicles will reach up to 3 percent, according to a statement released by the automaker.
“This adjustment is necessitated by the escalating costs driven by inflation and the rise in commodity prices,” the statement noted.
Mahindra emphasized that they have attempted to absorb as much of these additional expenses as feasible.
Nevertheless, a portion of this increase must be transferred to the customers, the company further explained.
On Thursday, Hyundai Motor India Limited (HMIL) made a similar announcement regarding a price increase across its entire model range, effective from January 1, 2025, due to rising input costs and other influencing factors. This price adjustment will be applied across models, and the increase could go up to Rs 25,000.
In November, Mahindra & Mahindra reported total auto sales of 79,083 vehicles. In the segment of Utility Vehicles, Mahindra sold 46,222 vehicles in the domestic market, marking a growth of 16 percent, and in total, 47,294 vehicles were sold, including exports.
The domestic sales figures for commercial vehicles reached 22,042 in November.
Last week, the automaker expanded its electric vehicle portfolio in the nation with the launch of two brand new models. The entry-level variants of BE 6e and XEV 9e are priced at Rs 18.9 lakh and Rs 21.9 lakh (ex-showroom) respectively. The company mentioned that the BE 6e offers a range of 682 km, while the XEV 9e has a range of 656 km.
Furthermore, the automaker has committed to investing over Rs 12,000 crore in its electric vehicle (EV) sector.
