Automobiles News

price hike: Mahindra & Mahindra announces price hike for passenger, commercial vehicles in 2024

Mahindra & Mahindra on Wednesday announced its decision to raise prices for both passenger and commercial vehicle models, effective from January 2024. This strategic move comes in response to the mounting challenges posed by inflation and the surge in commodity prices impacting the automotive sector.

The company, acknowledging the economic strain, has diligently attempted to absorb a substantial portion of the escalated costs. Nevertheless, in order to maintain financial viability and sustain operations, Mahindra & Mahindra will pass on a proportion of the increased expenses to consumers.

“While we have endeavored to shield our customers from the full brunt of rising costs, it is imperative for us to make this adjustment to ensure the continued delivery of quality vehicles and services,” stated a spokesperson for Mahindra & Mahindra.

The forthcoming price adjustment will not be uniform across the entire spectrum of SUVs and commercial vehicles offered by the company. The extent of the increase will be subject to the specific model, reflecting the diverse nature of the automotive lineup.

This decision by Mahindra & Mahindra underscores the challenging economic environment faced by the automotive industry, where factors such as inflation and escalating commodity prices exert substantial pressure on manufacturers. The move aligns with the company’s commitment to maintaining a delicate balance between customer affordability and sustaining operational excellence.

As customers prepare for the new year, it is advisable to stay informed about the specific adjustments applicable to their preferred Mahindra & Mahindra vehicle model. The company remains dedicated to delivering reliable and efficient vehicles, adapting to the economic landscape to ensure a continued legacy of quality and innovation.

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