M&M increases vehicle prices to beat cost stress

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SummaryMahindra & Mahindra hiked the prices of its vehicles in the range of 0.6% to 2.5% to ease high input cost pressure.

Mahindra & Mahindra (M&M) on Wednesday hiked the prices of its vehicles in the range of 0.6% to 2.5% to ease high input cost pressure.

Pravin Shah, CEO, automotive division, M&M, said, “The price increase is to combat the high input costs.”

The company is in the process of ramping up production of Rexton, the auto major’s first product from its Korean subsidiary Ssangyong, and Quanto to meet the market demand and reduce the waiting period.

“We have been increasing month-on-month production of these two products,” said Shah.

The company said it will be producing 500 more units of Rexton in January.

The waiting period for Quanto is between four to six weeks and for Rexton, four to eight weeks. M&M would also roll out two new products, a sub-4 metre Verito and Mahindra Reva NXR, the electric car, in the current quarter, Shah said.

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