Mahindra & Mahindra today announced that it plans to increase prices of its passenger and commercial vehicles by up to 3 per cent. The hike across the company's portfolio will be effective January 1, 2018. The company has been very cautious this year and has been working on bringing in new products next year. Commenting on the price hike Rajan Wadhera, President - Automotive Sector, Mahindra & Mahindra Ltd. said, "We have been holding back on price hikes and absorbing the higher input costs for a while, but with the increase in commodity prices we will have to take a price increase."
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The company has been planning to expand its electric car portfolio, which will see a significant step towards the government's initiative making India an all-electric market by 2030. Having said that the company is also working on getting ready for the introduction of BS VI fuels by April 2020 and there's a significant amount of money that will go into getting the company ready.
At the 2018 Auto Expo, the company plans to showcase its electric car prowess along with concepts that will help the company consolidate its position in the Indian car market. In fact, the company is looking to consolidating its leadership in the SUV segment too and we look forward to what the company has to offer in India.
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