Mahindra & Mahindra Ltd, India’s leading SUV manufacturer, announced today that it will be increasing the prices of its passenger and commercial vehicles by up to 2% and that this increase will be effective from the 1st of January, 2014.
This hike has been caused due to increasing costs of raw materials, inputs and freight prices. Commenting on the price hike, Pravin Shah, the Chief Executive Office of the Automotive Division at Mahindra & Mahindra Ltd. said, “We have been holding back prices for a while but now it has become necessary to raise them to partly compensate the increase in materials, input and freight costs. As always, Mahindra remains committed to its customers”.
In 2012, Mahindra featured on the Forbes Global 2000 list, a listing of the biggest and most powerful listed companies in the world and in 2013, the Mahindra Group received the Financial Times ‘Boldness in Business’ Award in the ‘Emerging Markets’ category.