Mahindra & Mahindra Ltd. (M&M Ltd.), India's leading SUV manufacturer, has said that it would be raising the prices of its passenger as well as its commercial vehicles by up to 2 per cent. This increase would be in the range of Rs 6,000 to Rs 20,000 depending on the model and will be effective October 1, 2013.
The increase is primarily due to higher input costs, devaluation of the rupee and increase in some raw material costs.
Commenting on the price hike, Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. said, "We have been holding back prices for a while but now it has become necessary to raise them due to increasing input costs, devaluation of the rupee and increase in some raw material costs. As always, Mahindra remains committed to its customers," the firm said in a release.
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