Mahindra will increase prices from August

  • Published By: Hari
  • 31 July 2018
  • 2070 Views

The automaker said the 2 percent hike in cost of passenger vehicles is because of a rise in commodity prices.

Mahindra & Mahindra (M&M) has stated that it will increase prices of its passenger vehicles by up to Rs 30,000 or 2 percent, effective August 2018.

Rajan Wadhera, president (Automotive Sector), Mahindra & Mahindra, said, “With the ongoing increase in commodity prices we plan to take a price hike of up to 2 percent in some models.”

Based on SIAM’s quarterly review data, commodity prices are on the uptick with key raw materials, including HR steel (+3.20 percent), CR steel (+3.97 percent), pig iron (+3.41 percent) and virgin aluminium (+9.26 percent) escalating significantly between March and May 2018 – these affect manufacturing costs for Mahindra.

 

News You May Like

Physical Driving License Not Mandatory To Carry

Drivers don’t need to carry physical driving license with them.

Read More
Delhi May Halt Private Vehicles If Smog Thickens

Delhi is covered with a thick layer of smog and hence the usage of private vehicles may be halted.

Read More
Download App