Mahindra & Mahindra (M&M) on Tuesday said it will hike prices of its entire range of passenger and commercial vehicles from next month in order to partially offset the impact of rise in input costs.
Effective January 1, the company will increase the price of its range of passenger and commercial vehicles, across models, the Mumbai-based automaker said in a statement.
This has been necessitated due to the increase in commodity prices and various other input costs, it added. Details of price increase across different models will be communicated in due course, the automaker, which sells models like Thar and Scorpio, said.
Last week, Ford India had said it will increase prices of its vehicles across models by up to 3 per cent from January 1 to offset the rising input costs. Earlier, the country's largest carmaker Maruti Suzuki India had announced that it would increase prices of its vehicles from January.
The company had also stated that the price increase would vary for different models, without specifying details.