For quite some time most of the car manufacturers in India are increasing the prices of some of their car models owing to the increasing raw material cost and implementation of the BS IV norms. After Maruti Suzuki, Tata and Hyundai, Mahindra & Mahindra will be the next utility major to join the league.
M&M Chief Executive (Automotive Division) Rajesh Jejurikar said “We have been holding back this raise for a while, but now it has become imperative to raise prices especially as the prices of raw materials have been on the rise,”
The company says that the prices of Mahindra Scorpio, Mahindra Xylo, and Mahindra Bolero might increase by up to Rs. 8000 which will certainly affect the sales of the respective cars. Another M&M official further added, “This increase would be in the range of Rs 3,000 to Rs 8,000 depending on the model and will be effective from October 1, 2010,”
The price hike spree seems to have no end as most of the majors are following the trend and others are expected to join soon.