New Delhi: Homegrown auto major Mahindra & Mahindra plans to increase prices of some of its passenger and small commercial vehicles by up to 1 per cent from next month, as it looks to "partially" offset rising input costs.
"We are contemplating to hike prices of some of our passenger and small commercial vehicles by up to 1 per cent from October 1 to partially compensate increased cost of operations," M&M Chief Executive (Auto Division) Pravin Shah told PTI.
The company is yet to finalise the models for price hike but it could include models like Scorpio and Xylo among others, he added.
The Mumbai-based company sells a range of passenger vehicles ranging from KUV100 to premium SUV Rexton, priced between Rs 4.5 lakh to around Rs 25 lakh.
It also markets a range of small commercial vehicles, including three wheelers and LCVs like Imperio and Jeeto priced between Rs 1.82 lakh to over Rs 7 lakh (all prices ex-showroom).
Earlier this year, Hyundai Motor India had announced to hike prices by up to Rs 15,000 across models from August 16 to offset rising input costs and impact of rupee depreciation.
Hyundai's bigger rival Maruti Suzuki India had also hiked prices of its various models by up to Rs 20,000. MSI increased price of its compact SUV Vitara Brezza by Rs 20,000 while that of premium hatchback Baleno by Rs 10,000. On a select range, the price hike was between Rs 1,500 and Rs 5,000.