Mahindra & Mahindra Ltd., India’s largest SUV manufacturer, has announced a lowering of prices of its passenger vehicle portfolio ranging from INR 13,000 to INR 49,000. The company will also bring down the prices of its premium SUV, the Mahindra SsangYong Rexton by up to INR 92,000.
The reduction is due to the lowering of excise duties announced in the Interim Budget and will be effective immediately. Commenting on the price reduction, Pravin Shah, the Chief Executive of the Automotive Division at Mahindra & Mahindra Ltd. said, “We are delighted at the Interim Budget announcements which have been taken to boost the automotive industry. We are confident that the reduction in prices by Mahindra as well as other auto companies would provide the much needed fillip to the auto industry. The prices of our range of commercial vehicles are also being reduced.”