Mahindra announces price hike from April 1

Mahindra and Mahindra have announced a hike in prices of its vehicles in the wake of the new taxes mentioned in the Budget for the fiscal year of 2016-17. The price hike will start from Rs 5,500 and go up to Rs 47,000 depending upon the model. The change of prices will be effective from April 1, 2016. However, for the recently launched Mahindra KUV100 the prices have been increased with immediate effect. The petrol variants of the KUV100 will be costlier by 1 per cent while the diesel models will be 2.5 per cent pricier.

Commenting on the price hike, Praveen Shah, Mahindra Chief Executive for passenger car business told PTI, "Though the 1-4 per cent duty hikes are already effective, we have decided to pass on the price increases only from April 1. Prospective customers can still avail of our various passenger cars at the pre-Budget prices all through March.”

"In absolute terms, prices will go up by Rs 5,500 to Rs 47,000, depending on the model and prevailing prices," he further added.

Mahindra’s new offering, the KUV100 has been receiving a good response from the market. The company has recently increased the production by 3,000 more units to reduce the waiting period which is currently 8-10 weeks.

The hike in prices also have been observed from most other car manufacturers, including market leader Maruti Suzuki, Hyundai, Tata Motors, Toyota, Honda, General Motors, Renault, Nissan, Skoda, and German companies like Mercedes-Benz and BMW.

Mahindra and Mahindra’s current product line-up for passenger cars consist of the KUV100, Bolero, Quanto, TUV300, Thar, Scorpio, XUV5OO, Xylo, Verito, and Verito Vibe.