Mahindra & Mahindra (M&M) has announced a price increase of up to 3% on its SUVs and commercial vehicles starting January 2024. The price adjustment comes in response to rising costs driven by inflation and increased commodity prices, the company said in a statement on Friday.
While M&M has worked to absorb a significant portion of these additional costs, it emphasized that a part of the increase will need to be passed on to customers. The extent of the price hike will vary across its range of SUVs and commercial vehicles but will remain capped at 3%.
This move aligns with the broader industry trend as automakers grapple with cost pressures stemming from volatile input prices and inflationary conditions.
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