Mahindra & Mahindra, one of India’s leading carmakers, has disclosed that it is planning to surge prices across the commercial vehicle and passenger vehicle ranges starting in January 2024. As the new year approaches, several automakers are gearing up to increase prices on their models. One more name has been added to the list, and that is Mahindra. The company is going to increase the prices of all its models, including the Scorpio range, XUV400 EV, Bolero, Bolero Neo, XUV300, XUV700, Scorpio-N, Thar, and more. The automaker shared a statement saying, “The adjustment is in response to the rising costs due to inflation and increased commodity prices.”
The auto giant did not disclose the quantum of the price hike implemented on individual models, but it did say that prices will differ across its SUVs. Mahindra added that it has tried to cover as much of the higher expenses as it can. But starting next year, a part of that will be transferred to the customers. Mahindra is anticipated to surge prices by at least 2 percent for its cars.
Read more: Mahindra to Launch XUV300 Facelift SUV in February 2024
Other than Mahindra Auto, other manufacturers, including Tata Motors, Maruti Suzuki, Audi, and MG Motor India, also implemented a price hike on their lineups starting in 2024. Various automakers are surging prices due to increased operating and raw material costs. Aside from shortages of essential supplies and equipment, growing inflation has been a significant factor in the recent price hikes.
The forthcoming year is important for Mahindra & Mahindra as it is going to launch several new cars in the pipeline, including an updated XUV400 facelift and the XUV300 facelift. The manufacturer will also unveil the long-awaited Thar five-door. It is planning to begin its new electric phase with the XUV.e8 electric sports utility vehicle, slated for the end of 2023. Mahindra also showed a remarkable 21 percent growth in sales in the month of November.
