M&M to raise vehicle prices

Indian automaker Mahindra and Mahindra will raise vehicle prices by an average 1% in the next two to three days, a company executive said on Wednesday.

The increase will be across products and has become necessary to offset rising input costs, Arun Malhotra, senior vice president, sales and customer care, told Reuters.

Four-wheeler major Mahindra and Mahindra (M&M) too was in top gear, clocking a 42% year-on-year growth in sales at 34,062 units while exported 1,999 units tractors in the month of December.

New models and discounts drove up the December sales of auto companies. Most companies closed this year healthy double digit growth.