Mumbai, 6 December (IANS). Mahindra & Mahindra on Friday announced an increase in the prices of its SUVs and commercial vehicles. This increase will be applicable from January 2025.
The company said in its statement that due to inflation and increase in commodity prices, Mahindra & Mahindra has decided to increase the prices of all its SUVs and commercial vehicles by 3 percent.
Mahindra said it has tried to absorb these additional costs as much as possible. However, a portion of the increased costs needed to be passed on to customers.
Earlier on Thursday, Hyundai Motor India Limited (HMIL) announced an increase in the prices of all its models by up to Rs 25,000. The new prices will be applicable from January 1. The reason for the increase in prices is the increase in input costs.
The statement issued by HMIL said that the price increase will be made on all models and will be increased up to a maximum of Rs 25,000. Price rise has become necessary due to increase in input costs, unfavorable exchange rates and increase in logistics costs.
Mahindra & Mahindra’s total sales in November stood at 79,083 units. In the utility vehicles segment, Mahindra sold 46,222 vehicles in the domestic market. There has been an increase of 16 percent.
Last month, Mahindra & Mahindra sold 47,294 vehicles including exports. Domestic sales of commercial vehicles stood at 22,042 units in the month of November.
Last week, the automaker expanded its electric vehicle portfolio in the country by introducing two all-new models. The entry-level variants of the BE 6e and XEV 9e are priced at Rs 18.9 lakh and Rs 21.9 lakh (ex-showroom), respectively.
The company said that the BE 6e comes with a range of 682 km while the XEV 9e has a range of 656 km. The automaker has committed to invest over Rs 12,000 crore in its electric vehicle (EV) business.
–IANS
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