Thar to XUV500 and more, Mahindra to hike prices from Jan
Mahindra on Tuesday announced that it will increase the prices of its range of passenger and commercial vehicles, across models from January 1, 2021. The company said in a press note sent recently that the price hike has been introduced 'due to the increase in commodity prices and various other input costs'. Moreover, details of the new prices will be communicated in the days to come, the company added.
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A few days back, Ford India had announced it will increase prices of its vehicles across models by up to 3% from January 1 to offset the rising input costs. On the same lines, the country's largest carmaker Maruti Suzuki India had also announced that it would increase the prices of its vehicles from January.
The firm's announcement comes at a time when the market is still in recovery mode from the lockdown induced disruptions.
The company has recently announced that it is expecting a reduction in production and sales volume at its automotive division in the last quarter of the current fiscal (FY 2020-21) due to the global supply shortage of micro-processors. The firm added that it is engaging closely with its auto components supplier Bosch and assessing likely production loss.
"The operations of the company in the automotive sector will be affected by the global supply shortage of micro-processors (semiconductors) used in electronic control unit (ECUs) which is supplied by Bosch," Mahindra said in a regulatory filing.