Mahindra has announced an increase in price across all models in its portfolio. The hike varies between ₹5,000 to ₹73,000 while in terms of percentage change the prices of the Mahindra cars now will hike between the range of 0.5% to 2.7%.
The reason behind this hike is said to be the increased cost and the new prices will be applicable from April 1, 2019.
Few days back Tata motors announced a similar hike of up to ₹25,000 over all passenger vehicles across its portfolio citing increased input costs and external economic conditions as the main reason which prompted it to hike the price.
“This year has seen record high commodity price increases. Further there are regulatory requirements effective April 1st that have also led to cost increases. While we have made efforts to reduce our costs, it has not been possible to hold back the price increase. Consequently we are taking a price increase from April 1, 2019,” Rajn Waadhera, President Automotive Sector, (Mahindra & Mahindra) M&M Ltd.
This change in price will also be applicable on the newly launched trio- Marazzo, Alturas and XUV300. The exact numbers pertaining to price hike are not revealed yet.
All the three newly launched cars is doing well as far as the sales is concerned. Marrazo managed to sell about 3000 cars in a years and has been very consistent with that while Alturas, which is Mahindra’s most expensive car on offer has also shown positive sales number ever since its launch in February. About 430 Mahindra Alturas has been sold which is an impressive number in this segment.
XUV300, which was launched on 14th Feb, managed to register sales of over 4,400 units. This despite the fact that it was launched in the middle of a month and is the second best selling Mahindra car on offer.