Mahindra & Mahindra on Friday said it will hike prices of its SUVs and commercial vehicles by up to 3 per cent from April. The extent of the price increase will vary across different SUVs and commercial vehicles.
The adjustment is in response to the rising costs due to inflation and increased commodity prices, Mahindra & Mahindra (M&M) said in a statement.
Shares of M&M on Friday ended 1.08 per cent down at Rs 2,799.30 apiece on BSE.
Earlier Maruti Suzuki India and Tata Motors announced plans to increase vehicle prices from April, the second time in this year, in order to partially offset the impact of rising input costs.
Maruti Suzuki said it plans to hike prices of its entire model range by up to 4 per cent from next month. Tata Motors said it will increase the price of its commercial vehicle range by up to 2 per cent from next month.
Also Hyundai Motor India and Honda Cars India on joined the list of automakers planning to hike prices of vehicles from April, second time this year, to partially offset the impact of rising input costs and higher operational expenses.
In a statement Hyundai Motor India Ltd (HMIL) said it will hike prices of its vehicles by up to 3 per cent effective in April 2025. The quantum of price increase will vary based on the variants and models. The price increase is due to rising input costs, increased commodity prices and higher operational expenses, amongst other reasons, it added.
BMW Group India on Thursday said it will increase prices by up to 3 per cent across the BMW and MINI car range from next month. This is the second price hike this year by the carmaker.
The new prices will be effective from April 1, 2025, onwards, the group said in a statement.
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