Mahindra & Mahindra announces price hike for vehicles in 2024

7 Dec 2023 , 02:38 PM

Mahindra & Mahindra stated on Wednesday that it will hike prices for both passenger and commercial vehicle models beginning in January 2024. This strategic decision is in reaction to the rising problems provided by inflation and the rise in commodity costs, both of which are affecting the automobile industry.

Recognizing the economic pressure, the company has worked hard to absorb a significant percentage of the increased costs. However, in order to preserve financial sustainability and operations, Mahindra & Mahindra will pass on a portion of the additional expenditures to customers.

The upcoming price increase will not be consistent throughout the company’s whole lineup of SUVs and commercial vehicles. The magnitude of the increase will vary depending on the vehicle, reflecting the different characters of the automobile inventory.

This move by Mahindra & Mahindra highlights the harsh economic environment in which the automobile sector operates, with factors like as inflation and rising commodity costs exerting significant pressure on manufacturers. The decision is consistent with the company’s goal of striking a fine balance between client affordability and operational performance.

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