Prices of Vehicles from across the spectrum are set to rise again this August, while Utility vehicle specialists Mahindra & Mahindra announcing plans to increase the price of its passenger vehicles by up to 30,000 in order to offset the impact of rising commodity prices. The price increase will be limited to Rs 30,000 or 2 percent will be effective from the first of August 2018. Speaking on the expected price rise, Mahindra & Mahindra's President Automotive Sector Rajan Wadhera said. “With the ongoing increase in commodity prices, we plan to take a price hike of up to 2 per cent in some models," These updated prices will be applicable to all cars in the Mahindra portfolio including the XUV 500, Scorpio, TUV300 and KUV100.
Mahindra is one of the first to announce the rise in prices, being beaten to the punch only-by Tata motors who announced the hike in prices earlier this month. Tata Motors said that the sticker value of their cars could see a rise by around 2-2.2 per cent from August citing increased cost of manufacture as the reason. However, this seems to be the initial stages of a trend as most dealers in our network confirmed similar price rises from other brands.
The news comes just ahead of Mahindra launching their new MPV, that has thus far been codenamed the U321. The U321 will be the first in a line of Mahindra entering several new market segments including the Tivoli based compact SUV set to take on the Maruti Suzuki Vitara Brezza in the early parts of 2019. Following which Mahindra is likely to launch 2 new electric cars as the year goes on, Thus far, Mahindra has been the thought leaders among Indian Automotive companies in terms of electric innovation and have insinuated in the past that they would launch the KUV100 electric in the first half of 2019, promising to be a truly mass-market electric car