After seeing a serious downfall in the sales number here in the country owing to some new norms implemented by the government that somehow enhanced the cost of production, undoubtedly every automaker is desiring for a price hike in its entire range. Mahindra and Mahindra, a leading utility vehicle manufacturer of the country, has also witnessed low sales in last month thereby announced to increase prices across its entire model range in India from January 2017. The homegrown automaker will hike prices of its vehicles by up to INR 26,500.
"We plan to increase prices of our passenger and commercial vehicles in the range of 0.5 to 1.1 per cent from next month. Prices of passenger vehicles would go up in the range of Rs 3,000 to Rs 26,500 depending upon the model," Mahindra & Mahindra Chief Executive Auto Division Pravin Shah told PTI.
“The ex-showroom prices of its small commercial vehicles (up to 3.5 tonnes) would also increase in the range of Rs 1,500 to Rs 6,000 from January,” he added. Justifying the reasons for a hike in prices, he conveyed that input costs have been increasing owing to the escalation of prices of various materials including precious metals. Further adding Shah said, "Besides, cost of fuel has also gone up leading to increase in freight costs. Also, there has been an impact of changing regulatory requirements."
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Currently, the native automaker Mahindra sells an array of passenger vehicle ranging from its an entry level unit, the KUV 100 to the full-sized SUV unit, the XUV500. Besides, the company also retails the premium Rexton SUV, sold under the moniker of SsangYong. All these model are available in the price bucket of INR 4.58 Lakhs to around INR 24.86 Lakhs (Ex-showroom). Moreover, the company also markets several small commercial vehicles that include three wheelers and LCVs such as Alfa and Imperio priced between INR 1.76 Lakhs and INR 7.35 Lakhs (Ex-showroom).
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