Going with the trend of price hike, Indian automaker Mahindra & Mahindra has announced that its products too will undergo price revision and is set to become more expensive by up to 3%. Both passenger and commercial vehicles will be included in this price hike. This will be effective from 1st January 2018.
Commenting on the price hike Rajan Wadhera, President -Automotive Sector, Mahindra & Mahindra said, “We have been holding back on price hikes and absorbing the higher input costs for a while, butwith the increase in commodity prices we will have to take a price increase.”
M&M is currently consolidating its market position and is expected to launch new products in the market starting 2018 Auto Expo. Currently, Mahindra is also the only company to have electric cars in its product range and going forward the company will launch 3 new electric cars by 2020. In 2018, we will also see the Mahindra KUV100 making its Indian market debut.
Mahindra is also working on the introduction of its new 1.5L petrol engine and will debut with its crossover vehicle which is also likely to debut at the 2018 Auto Expo followed by a market launch in the second half of 2018. Going forward with electrification taking the centre stage in mobility, expect Mahindra to be aggressive in all fronts in the electric vehicle race. Mahindra owned Pininfarina brand is also working on a high end premium performance electric car that will take on the likes of Tesla. However, given that electric cars are not affordable in India, Mahindra will not launch that product in India till there is demand.
Dr. Pawan Goenka has also confirmed that the company will participate in the second round of EESL tender and on the back end have started works to increase its production capacity at the Mahindra Electric plant in Bengaluru. The company has already started working with cab providers like Uber and Ola to deploy electric cars on Indian roads.
For the first round, both Mahindra and Tata Motors have commenced the deliveries of its electric car to the state-run EESL.