With several carmakers preparing to hike prices due to rising costs, leading SUV maker Mahindra & Mahindra (M&M) on Friday announced a price hike of up to 3 per cent for its sports utility vehicle (SUV) and commercial vehicle (CV) range.
The new prices will take effect from April 2025. The company attributed the price rise to rising input costs and higher commodity prices.
M&M said that while it had tried to absorb most of the additional costs, some of the increase would have to be passed on to customers.
According to the company’s official statement, the price increase will vary for different SUV and commercial vehicle models.
The company recently announced that total vehicle sales in February were 83,702 units, an increase of 15%, including exports. In the “Utility Vehicle” segment, Mahindra sold 50,420 SUVs in the domestic market, a growth of 19%, taking the total sales to 52,386 units (including exports). Domestic sales of commercial vehicles were 23,826 units.
Total tractor sales (domestic and export) in February 2025 were 25,527 units as compared to 21,672 units in the same period last year. Exports this month were 1,647 units.
Domestic sales in February were 23,880 units, while domestic sales in February 2024 were 20,121 units.
Meanwhile, Mahindra’s two biggest rivals, Maruti Suzuki and Hyundai Motor India, have also announced price hikes from April.
Kia, Honda and Tata Motors have already announced price hikes due to rising input costs. Luxury carmakers such as BMW have also confirmed price increases starting next month.
Rising costs in the automotive industry have made it difficult for manufacturers to maintain price stability, leading to adjustments in various segments.
According to media reports, the Indian automobile industry has been facing rising raw material prices and logistics costs, which has affected production costs.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
