Thursday, 4 April 2013

M&M to hike prices by 1-2 pc to offset rising input costs

Mahindra & Mahindra has decided to hike the prices of all its existing vehicles by 1-2% to offset increasing input costs and inflation.

"We will be soon announcing a price hike of 1 to 2 per cent in order to offset increasing input costs and inflation," Mahindra & Mahindra President (Automotive and Farm Equipment Sectors) Pawan Goenka told reporters here on the sidelines of CII annual conference.

The confirmation of which vehicles the price increase would take place is still awaited. When asked about the response of the newly launched Mahindra E2O, he said the response has been disappointing in terms of number of orders received but the product has received widespread appreciation.


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