Mahindra and Mahindra have announced that starting April 1st 2019, they are going to increase the prices across its entire vehicle portfolio.
Starting April 2019, Mahindra is going to increase the prices of its passenger as well as commercial vehicle portfolio by 0.5% to 2.7%. This means that the effective increase of the prices will be in-between the range of INR 5,000 to INR 73,000. The homegrown automaker is yet to reveal the exact model wise price increase. Also, we are not aware of this price hike is going to affect newly launched models such as the Mahindra XUV300.
According to Mahindra, the increase in prices comes in the wake of rising commodity prices. And also because of the new safety regulations regarding passenger vehicles which come in effect starting 1st April 2019.
Commenting on this, Rajan Wadhera, President Automotive Sector, M&M Ltd., “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.”
In other news, Mahindra has recently launched an all-new sub-4-meter compact SUV in World. Called as the XUV300, this vehicle competes against the likes of Maruti Suzuki Vitara Brezza, Ford EcoSport and Tata Nexon. It falls in-between the price range of INR 7.90 lakh to INR 11.99 lakh (ex-showroom).
Mahindra has launched a total of three all-new vehicles in World including the Mahindra XUV300. The other two are the Marazzo MPV and the Alturas G4 SUV.
The homegrown automaker has announced that it is not going to launch any all-new vehicle in World before April 2020. All model launches from the carmaker are going to be either mid-life updates or generation updates.