Mahindra to hike prices from October 1

Mahindra & Mahindra will hike the prices of its cars including commercial vehicles by up to 2 per cent. The hike will come into effect from October 1, 2013.

The increase would be in the range of Rs.6,000-20,000, depending on the vehicle model. The price hike comes as a move to partly offset the rising input costs and drastic depreciation of the rupee.

"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," M&M Ltd Chief Executive, Automotive Division, Pravin Shah said to PTI

Earlier Maruti, Hyundai, Toyota and General Motors had also announced price hikes while Tata Motors is soon expected to follow suit.

Related: Maruti Suzuki to raise car prices from October 1