The country's leading automobile company Mahindra & Mahindra has announced to increase the prices of its vehicles. The increase in the prices of Mahindra vehicles has come into effect from today, 14 April 2022. The company has informed the stock exchanges that the company is going to increase the prices of vehicles by 2.5 percent from today. After this hike, Mahindra vehicles will become costlier by Rs 10,000 to Rs 63,000. According to the company, the plan to increase the prices will depend on the model and variant of the vehicle.

Due to increase in cost, the decision to increase the price

M&M has said that due to the increase in input cost, the cost of vehicles has been significantly affected. That's why the prices are being increased. The company's steel, aluminum. There has been a huge increase in the prices of many commodities including Palladium, due to which the prices of vehicles have increased. The company has said that due to the increase in input cost, the cost of vehicles has been greatly affected. Therefore, by increasing the prices, it has become necessary to pass some part of it to the customers.

Margin impact due to increase in cost

Input cost is very important for any car maker. The material cost accounts for 70 to 75 percent of the total cost for any original equipment manufacturer. Due to this, the margin of the company has also been affected. This is the reason why Mahindra & Mahindra has had to take the decision to increase the price.

SUV maker

Mahindra & Mahindra is a leading company in the field of SUV manufacturing. Scorpio, XUV300, XUV700, and Thar are the popular brands of the company. Mahindra is also going to foray into the field of electric vehicle manufacturing in a big way. Mahindra also manufactures tractors.