Mahindra -; Mahindra announces price hike of 2.5% for its vehicle range from April 14; Stock trades flat

18 Apr 2022 , 09:16 AM

Mahindra & Mahindra Ltd, (M&M) one of India’s leading automotive companies, has announced a price hike of 2.5% on its range of vehicles.

Accordingly, this will result in an increase of Rs10,000 to Rs63,000 on the ex-showroom prices across the range, depending upon the model and the variant. The price hike will be effective from April 14, 2022.

As per regulatory filing, the price revision is result of continuous increase in prices of key commodities such as steel, aluminium, palladium, etc. The company has taken necessary initiatives to partially offset the unprecedented hike in commodity prices to absorb the impact, passing a minimal percentage of cost increase to customers through a price revision.

The company is working with its sales and dealer network to communicate the new prices to their customers appropriately.

On Monday early morning trade, Mahindra & Mahindra was trading flat at Rs865.60 per piece on the BSE.