Mahindra & Mahindra Ltd has announced a price hike across its passenger and commercial car portfolio. The increment in the cost will be as much as 1.9% which translates to INR 4,500 to INR 45,000 depending on the model you choose. By the end of 2020, it was clear that almost all automakers will be going all guns blazing and coming up with a number of launches to make up for an under-par 2020.
But, due to the unprecedented effects of 2020, all major automakers had also announced a price hike across their portfolio effective some point in January 2021. Mahindra & Mahindra has followed suit.
Veejay Nakra, CEO – Automotive Division, M&M said, “The price increase was necessitated due to the unprecedented increase in commodity prices and various other input costs over the past many months. We have made all efforts to reduce our costs and deferred price increase for a significant duration, but due to the quantum of the input cost increase, consequently, we are taking this price increase effective January 8, 2021.”
Currently, Mahindra & Mahindra’s Passenger Vehicle portfolio includes the KUV 100 NXT, the XUV 300, Bolero, Marazzo, the all-new Thar, Scorpio, XUV 500 and finally the Alturas G4. It’s commercial segment, on the other hand, includes the likes of the Bolero pick-up, the Jeeto, Supro and the Alfa models and its various avatars. Mahindra & Mahindra currently has its own share of problems. Its JV with Ford was called-off earlier this month. Mahindra owned Pininfarina Engineering is shutting down in Italy and Mahindra-owned Ssangyong has filef for Bankruptcy and M&M is looking to sell off its 70% stake.
Mahindra’s upcoming products
But, on the bright side, it has some very highly anticipated and exciting launches for this year. This includes the all-new XUV 500 and the all-new Scorpio. Both these products have proved to a reliable workhorse for Mahindra, especially the Scorpio. With the buzz around their generational updates, Mahindra can gain quite a lot.
As for the price hike, the exact rise for each model is still unknown while M&M has stated that the current price hike will be effective for all Thar bookings from December 1, 2020, to January 7, 2021. All fresh bookings of the Thar, from 8th January 2021 onwards will have prices as applicable on the date of delivery.
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