Mahindra hikes up their car price by 2% in August

Following other automakers, like Honda and Tata Motor, Mahindra has announced that they are going to raise their price of all their passenger vehicles by 2%. Other car makers like Nissan, Datsun, and Hyundai also inform their up-coming increase in price.

The price change will be realized in August 2018. It will lead to the hike-up in price for all 12 models on sales of Mahindra which includes the Mahindra XUV500, KUV100 NXT, TUV300, TUV300 Plus, Bolero, Scorpio, Thar, Xylo, and NuvoSport.

Mahindra's best selling cars - Mahindra Bolero will also have a 2% rise in price

Mahindra explains that due to the rise in the material cost, they have no other choice rather than increase the price. “With the ongoing increase in commodity prices we plan to take a price hike of up to 2% in some models,” said Rajan Wadhera, President – Automotive Sector, Mahindra & Mahindra Ltd.

The sales of Mahindra’s Passenger Vehicles segment has increased by 12 percent in June with 18,137 vehicles sold. The commercial vehicles segment has grown by 27 percent with the total sales of 19,229 vehicles. 

In the year to come, Mahindra has planned on introducing three new cars to the Indian market, which are an MPV, new XUV700, and an all-new sub-four meter SUV. These cars are expected to expand sales for Mahindra. However, with the small changes in the price of the older models, there is still uncertain whether the sales will rise or not.

For more car news in the Indian market, visit IndianAuto to keep yourself updated.

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