Mahindra to increase prices from January

Mahindra & Mahindra on will raise the prices of its products across all categories in January due to increase in commodity rates.

“There will definitely be a price increase in January and we are finalising it at present… It will be across all categories (passenger and commercial vehicles),” Mahindra & Mahindra (M&M) senior vice-president (Sales and Customer Care, Automotive Sector) Arun Malhotra told reporters.

Mahindra will also introduce a new pick-up truck above 1.2-tonnage carriage capacity within the first six months of the next year.

Earlier, another auto-maker Tata Motors was understood to have decided to increase prices of its passenger vehicle models, except Nano and Aria, by up to 1.5 per cent from January.

Volkswagen had said it would increase the prices of its small car Polo by over 2.9 per cent with effect from January 1, 2011.

Major car makers such as Hyundai , Chevrolet, Tata, Maruti, Volkswagen have also announced to increase the prices to offset the pressure from raw materials, including natural rubber, from next year.

Source: ET