Mahindraand Mahindra has announced that it will be increasing prices across its SUVs and commercial vehicle model range from January 2024 onwards. The automaker cited rising costs and inflation for the increase in prices. The latest increase in prices will come into effect after the automaker hiked prices in September where purchasing costs had gone up by Rs 43,500 among its popular SUVs like Thar, Scorpio-N and XUV700.
The official statement from Mahindra read, Mahindra & Mahindra, India’s leading SUV manufacturer, announces a price increase for its SUV and CV range, effective January 2024. This adjustment is in response to the rising costs due to inflation and increased commodity prices. Mahindra has made efforts to absorb as much of these additional costs as possible. However, a portion of this increase will be passed on to customers. The extent of the price increase will vary across different SUVs and Commericial Vehicles.’
The official statement from Mahindra read, Mahindra & Mahindra, India’s leading SUV manufacturer, announces a price increase for its SUV and CV range, effective January 2024. This adjustment is in response to the rising costs due to inflation and increased commodity prices. Mahindra has made efforts to absorb as much of these additional costs as possible. However, a portion of this increase will be passed on to customers. The extent of the price increase will vary across different SUVs and Commericial Vehicles.’
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While the automaker has not specified by what amount or percentage the prices for its products will go up by, it can be expected to be a marginal amount as the statement refers to a portion of the additional costs being passed on to its customers. The exact number however, will only be known at a later date. Apart from Mahindra, other carmakers such as MG Motor India and Audi India have also announced a price increase to come into effect from January 2024.
What are your thoughts on the latest price hike of cars in the domestic market? Do you think it will hamper the auto market’s growth in 2024? Let us know in the comments.
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