Mahindra & Mahindra Ltd. India’s leading SUV and Farm Equipment manufacturers announced on November 11, 2014 that it had raised the prices of its passenger and commercial vehicles by an average of 1 pc. The increase in prices for the passenger and commercial vehicles would be in the range of Rs. 2,300 to Rs. 11,500 (ex-showroom) and will be effective from November onward. The amount of increase in the price of the vehicle will depend on the model. The hike in prices of Mahindra’s Tractors would be in the range of Rs 6,000 to Rs 10,000 according to the model in consideration.
Pravin Shah, Chief Executive, Automotive Division & International Operations (AFS), Mahindra & Mahindra Ltd. said that they had been holding back on price hikes for a while but it was now necessary to increase the prices which would help in offsetting the impact caused by increases in the cost of inputs.
The Farm Equipment Sector (FES) is also a part of the USD 16.5 billion Mahindra Group and along with the PV and CV sectors they announced an increase in the prices of their tractors which would be effective from November 2014. According to FES the price hike has emerged out of the increase in commodity prices and conversion costs.
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