Mahindra & Mahindra Ltd. (M&M Ltd.), India’s leading SUV manufacturer, today announced that it would be raising the prices of its passenger and commercial vehicles by up to two percent, according to a company statement. This increase would be effective January 1, 2014. The price increase is primarily due to rising materials, input and higher freight costs.
Commenting on the price hike, Pravin Shah, Chief Executive, Automotive Division, 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”.