India’s leading SUV maker, Mahindra & Mahindra is set to increase prices of it entire product range including commercial vehicles by 2 percent. The hike will come into effect from October 1, 2013. The increase would be in the range of Rs. 6,000-20,000, depending on the model.
Mahindra has cited increasing input costs and drastic depreciation of the rupee as reasons for the price hike.
Apart from Mahindra, Maruti, Hyundai and General Motors have also announced price hikes. Toyota also increased prices of their product range from September 21 and Tata Motors is expected to raise prices soon as well.