Mahindra & Mahindra Plans Price Increase for SUVs and Commercial Vehicles Starting April
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Synopsis
Mahindra & Mahindra has announced a price increase of up to 3% for its SUVs and commercial vehicles, effective from April 2025. The rise is attributed to increasing input costs and commodity prices, with various automakers like Maruti Suzuki and Hyundai also planning similar hikes.
Key Takeaways
- Price hike of up to 3% for SUVs and CVs.
- Effective from April 2025 due to rising costs.
- Overall auto sales grew by 15% in February.
- Domestic SUV sales reached 50,420 units.
- Competitors also raising prices amid similar cost pressures.
Mumbai, March 21 (NationPress) In light of rising expenses impacting various automakers, prominent SUV producer Mahindra & Mahindra (M&M) declared on Friday an increase in prices of up to 3 percent for their sport utility vehicle (SUV) and commercial vehicle (CV) offerings.
This price adjustment will take effect from April 2025. The company has cited escalating input costs and heightened commodity prices as the reasons for this decision.
M&M emphasized that although they have attempted to absorb most of the rising costs, they must transfer a fraction of this increase to customers.
The scale of the price rise will differ across various SUV and commercial vehicle models, as per the company’s official communication.
Recently, M&M reported that their total auto sales for February reached 83,702 vehicles, marking a growth of 15 percent, inclusive of exports. In the ‘Utility Vehicles’ category, they sold 50,420 SUVs in the domestic arena, reflecting a 19 percent increase and a total of 52,386 vehicles overall, including exports. The domestic sales for Commercial Vehicles were recorded at 23,826.
During February 2025, total tractor sales (including domestic and exports) amounted to 25,527 units, compared to 21,672 units during the same month last year. Exports for this month were 1,647 units.
Domestic sales in February were noted at 23,880 units, up from 20,121 units in February 2024.
Simultaneously, major competitors such as Maruti Suzuki and Hyundai Motor India have also announced price increases effective from April.
Other brands like Kia, Honda, and Tata Motors have already disclosed price hikes due to surging input costs. Even luxury brands like BMW have confirmed price increases starting next month.
The rising expenditures in the auto sector have compelled manufacturers to adjust their prices, affecting various segments.
Media reports indicate that the Indian automotive industry is grappling with soaring raw material prices and logistical expenses, which are impacting production costs.
