- By Divanshi Sharma
- Thu, 07 Dec 2023 01:32 PM (IST)
- Source:JND
Mahindra & Mahindra, one of India’s leading car manufacturers has announced that it will be hiking the prices of its entire vehicle line-up from January 2024. This price hike is the result of escalating costs attributed to inflation and increasing commodity prices. While Mahindra has tried to absorb a significant portion of these additional expenses, some part of this increase will also have to be borne by the customers. The range of the price increase will fluctuate among various SUVs and Commercial Vehicles in the lineup.
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Mahindra's price hike announcement came days after several other car manufacturers announced to increase the prices of their cars from January 2024. Carmakers including Maruti Suzuki, Tata Motors, Hyundai, MG India, Audi and Honda have announced to hike prices of their entire car lineup from 2024. While Audi announced to increase in their car prices by 2 per cent, Maruti and Tata are yet to announce the quantum of the proposed hike. All these manufacturers have attributed rising input costs as the reason behind the price hike.
Mahindra India Line-up
Mahindra’s SUV range in India includes models like XUV700, XUV300, Scorpio-N, Thar, Scorpio Classic, Bolero, Bolero Neo, Marazzo and an EV model XUV400. In addition to this, Mahindra is also planning to launch various EV models in the upcoming years like Mahindra Thar EV, Mahindra XUV.e9, Mahindra XUV.e8, Mahindra BE.05, Mahindra BE Rall-E and Mahindra BE.07.
Mahindra November 2023 Sales
Meanwhile, Mahindra has witnessed a record growth of 21 per cent in sales in November. Mahindra & Mahindra retailed a total of 70,756 units in the country. In the Utility Vehicles segment, Mahindra sold 39,981 vehicles in the domestic market, a growth of 32% and overall, 40,764 vehicles, including exports.
The domestic sales for Commercial Vehicles stood at 22,211. Additionally, Mahindra also stated that between the April to October period of FY2023, the company has sold a total of 258,612 SUV units representing a 30 per cent growth when compared to the 199,278 units sold in the same period of the previous year.