M&M hikes prices of SUVs, CVs by up to 3% on rising commodity costs
This story was originally published at 20:07 IST on 6 December 2024
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MUMBAI – Mahindra and Mahindra Ltd. on Friday hiked prices across its sport utility vehicle and commercial vehicle range by up to 3% effective January, the company said. The hike follows rising costs due to inflation and increased commodity prices, the company said in an exchange filing.
"Mahindra has made efforts to absorb as much of these additional costs as possible. However, a portion of this increase will need to be passed on to customers," the company said in a release. The company's peers, including Maruti Suzuki India Ltd., Hyundai Motor India Ltd., too, hiked prices recently to pass on the rising input costs.
In the September quarter, M&M reported a net profit of INR 38.41 billion on revenues of INR 275.53 billion. Friday, shares of M&M closed flat at INR 3,073 on the National Stock Exchange. End
Reported by Anand JC
Edited by Deepshikha Bhardwaj
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