Mumbai, Dec 7: Mahindra & Mahindra on Friday announced a price hike for its SUV and commercial vehicle (CV) range, effective from January next year.
The extent of the price increase across different SUVs and commercial vehicles will be up to 3 per cent, the automaker said in a statement. “This adjustment is in response to the rising costs due to inflation and increased commodity prices,” it added. Mahindra said it has made efforts to absorb as much of these additional costs as possible. However, a portion of this increase will need to be passed on to customers, it added.
On Thursday, Hyundai Motor India Limited (HMIL) announced to increase prices across its model range effective from January 1, 2025, owing to an increase in input costs and other factors. The price increase will be done across models, and the extent of increase will be up to Rs 25,000. In November, Mahindra & Mahindra saw its overall auto sales at 79,083 vehicles. In the Utility Vehicles segment, Mahindra sold 46,222 vehicles in the domestic market, a growth of 16 per cent, and overall, 47,294 vehicles, including exports.
The domestic sales for commercial vehicles stood at 22,042 in the month of November. Last week, the automaker expanded its electric vehicle portfolio in the country with the introduction of two all-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 said that BE 6e comes with a range of 682 km while the XEV 9e features a range of 656 kms. The automaker has committed to an investment of over Rs 12,000 crore in its electric vehicle (EV) business.