MahindraΒ is set to raise prices for its entire lineup of SUVs in India, starting January 2024. However, the model-wise price revision is yet to be revealed.The company joins other automakers like Maruti Suzuki, Hyundai, Audi, and Tata Motors, who have already announced plans to increase the prices of their productsThe move comes as a response to the growing costs and inflation affecting the automotive industry.
Tried to absorb additional costs: Mahindra
Like other automakers, Mahindra has also cited inflation and rising commodity prices as the primary reasons for the price hike.In an official statement, the company said that it has tried to absorb as much of these additional costs as possible, before announcing the revision.In the passenger car segment, Mahindra offers as many as 10 cars, including popular SUVs such as theΒ XUV700, Thar, Scorpio, and the all-electric XUV400.
Mahindra joins other carmakers in announcing price hikes
As we approach the new year, Mahindra is the latest carmaker to announce price hikes.In the coming weeks, customers can expect more information on model-wise price hikes from Mahindra and other car manufacturers.While increased prices help automakers register more revenue, customers often wait for discounts or price cuts to make purchases. It remains to be seen how demand will get impacted in the first quarter of 2024.