Mumbai (Maharashtra) [India], April 14 (ANI): Mahindra & Mahindra, one of India's leading automotive companies, on Thursday announced 2.5 per cent hike in the price of its range of vehicles that will result in an increase of upto Rs 63,000 on the ex-showroom prices.
"The price revision is result of continuous increase in prices of key commodities such as steel, aluminium, palladium, etc," Mahindra & Mahindra said in a statement.
The price hike became effective on April 14, 2022. All Mahindra & Mahindra vehicles have become costlier effective from Thursday. The increase in price range from Rs 10,000 to Rs 63,000 on the ex-showroom prices across the range of vehicles, depending upon the model and the variant.
"The company has taken necessary initiatives to partially offset the unprecedented hike in commodity prices to absorb the impact, passing a minimal percentage of cost increase to customers through a price revision," the company said.
Mahindra & Mahindra said it is working with its sales and dealer network to communicate the new prices to its customers appropriately. (ANI)