Mahindra SUVs could become more expensive in the coming weeks, as Mahindra & Mahindra evaluates the need for a price increase amid rising input costs and currency pressures.
Mahindra & Mahindra said it is assessing the impact of higher commodity prices and the weakening of the rupee against the US dollar before taking a final decision. The Mumbai-based automaker is expected to arrive at a call over the next few weeks.
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“We are studying the impact of commodity inflation and forex issues, and based on that, we will take a call whether to take a price hike or avoid it,” Rajesh Jejurikar, Executive Director & CEO (Auto & Farm Sectors), told PTI.
Jejurikar said the company is closely tracking commodity inflation, particularly in precious metals. He also pointed to the impact of the strengthening dollar against the rupee.
“So, we will wait and watch to see what happens on the commodity front over the next few weeks,” he added.
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Mahindra’s assessment comes at a time when several automakers have already announced price hikes. Companies such as Hyundai, BYD, and JSW MG Motor have confirmed price increases effective from January.
{{/usCountry}}Mahindra’s assessment comes at a time when several automakers have already announced price hikes. Companies such as Hyundai, BYD, and JSW MG Motor have confirmed price increases effective from January.
{{/usCountry}}Market leader Maruti Suzuki India has also indicated that it will soon decide whether to raise prices of its small cars, which had seen price cuts last year beyond the GST benefit of 8.5 per cent.
Luxury carmakers are also reviewing their pricing strategies. Mercedes-Benz India has said it is considering quarterly price hikes in the next calendar year to offset the impact of rupee depreciation against the euro. Similarly, BMW India is also looking at increasing vehicle prices.
If Mahindra decides to proceed, it would add to the growing list of automakers passing on higher costs to consumers amid persistent global economic pressures.