Mahindra & Mahindra will hike prices on its passenger and commercial vehicle range by 2.5 percent. This will translate to an increase of the ex-showroom price by Rs 10,000 to Rs 63,000 depending on the model and variant effective April 14.
The company says the price revision is because of the continuous increase in prices of key commodities such as steel, aluminium and palladium among others.
Mahindra says it 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 OEM will closely work with its sales and dealer network to communicate the new prices to the customers appropriately.