Mahindra & Mahindra has announced a rise in the price of its passenger as well as commercial vehicles. The price increase would be in the range of Rs 3000 to Rs 8000 varying from model to model and will be effective from October 1, 2010. The company has cited higher raw-material costs and the new Bharat Stage III emission norms as the reason for the hike.
Announcing the new prices, Mr Rajesh Jejurikar, Chief Executive, Automotive Division, Mahindra & Mahindra said, “We have been holding back this raise for a while but now it has become imperative to raise prices especially as the prices of raw materials have been on the rise. In addition, the new Bharat Stage III emission norms have also resulted in this price hike. As always, Mahindra remains committed to its customers”.