- Mahindra will increase SUV and commercial vehicle prices by up to 3% from April.
- The price hike is due to rising input costs that the company can no longer fully absorb.
- This follows strong sales in February, with total auto sales up 15% to 83,702 units.
Mahindra & Mahindra, a major Indian automaker, plans to raise prices for its SUVs and commercial vehicles starting in April. The increase, which could be as much as 3%, comes as the company faces higher input costs. While Mahindra has tried to cover these costs itself, it now says it must pass some of the burden onto customers. The price hike will differ depending on the model.
The announcement follows a solid February for Mahindra. The company sold 83,702 vehicles last month, a 15% jump from the previous year. This includes strong growth in its SUV segment, with domestic sales reaching 50,420 units, up 19%. Commercial vehicle sales hit 23,826 units in India, and tractor sales rose to 25,527 units overall. These numbers show Mahindra’s products remain popular despite the upcoming price changes.
Mahindra isn’t alone in raising prices. Other automakers like Maruti Suzuki, Hyundai, Tata Motors, Kia, Honda, and even luxury brand BMW have also announced price hikes for April due to rising input costs. This trend highlights the challenges faced by the auto industry as expenses for materials and production climb. For Mahindra, the price increase follows a busy period of growth, but its stock closed slightly lower at ₹2,799.30 on Friday.
