Mumbai: Your plans for a new car could go awry as automobile major Mahindra and Mahindra (M&M) on Thursday announced a price hike, in the range from Rs 5,000 to Rs 73,000, across all its models, effective from April 1.
"Mahindra & Mahindra (M&M)... today announced that effective 1st April, 2019, the price of its range of personal and commercial vehicles will increase by 0.5-2.7 per cent, resulting in an increase of Rs 5,000-Rs 73,000, across its models," the company said in a regulatory filing.
Rajan Wadhera, President Automotive Sector, M&M, said: "This year has seen record high commodity price increases. Further there are regulatory requirements effective April 1 that have also led to cost increases.
"While we have made efforts to reduce our costs, it has not been possible to hold back the price increase. Consequently we are taking a price increase from April 1, 2019."