Indian vehicle manufacturer Mahindra & Mahindra has said it will raise the prices of its vehicles across all segments in January due to increase in commodity rates.
“There will definitely be a price increase in January and we are finalising it at present... It will be across all categories,” M&M senior vice-president (Sales and Customer Care, Automotive Sector) Arun Malhotra said in New Delhi.
He, however, did not comment on how much could be the price increase on the company’s models. The prices of raw materials, especially rubber and steel, have gone up extensively in recent times, he added. Mahindra today showcased its latest utility vehicle ’Thar“ in the National Capital, which is available for Rs 5.99 lakh (ex-showroom, Delhi).
The company will launch a new pick-up truck above 1.2-tonnage carriage capacity within the first six months of the next year.
Major car makers such as Tata Motors, Hyundai Motor India and General Motors have announced their plans to increase prices of its passenger vehicle models from January. Volkswagen had said it would increase the prices of its small car Polo by over 2.9 per cent with effect from January 1, 2011.