Mahindra to raise prices across product portfolio
27 September 2010
Mahindra & Mahindra today said that it would raise the prices of its passenger and commercial vehicles from Rs3,000 to Rs8,000 depending on the model.
The new rates will be effective from 1 October, 2010.
M&M said the increase was primarily due to the higher raw-material costs as well as the cost of implementing the new Bharat Stage III emission norms, the company said in a release.
Rajesh Jejurikar, chief executive, automotive division, Mahindra & Mahindra, said, ''We have been holding back this raise for a while but now it has become imperative to raise prices especially as the prices of raw materials have been on the rise. In addition, the new Bharat Stage III emission norms have also resulted in this price hike.''
Mahindra's portfolio of products includes two-wheelers, commercial vehicles, sports utility vehicles and sedans.