New Delhi: Auto-maker Mahindra & Mahindra on Tuesday said it will raise the prices of its products across all categories in January due to increase in commodity rates.
“There will definitely be a price increase in January and we are finalising it at present... It will be across all categories (passenger and commercial vehicles),” Mahindra & Mahindra (M&M) senior vice-president (Sales and Customer Care, Automotive Sector) Arun Malhotra told reporters here.
He, however, declined to comment on how much could be the price increase on M&M’s models.
The prices of all raw materials, especially rubber and steel components, have gone up in recent times, he added.
The company today showcased its latest utility vehicle ‘Thar’ in the National Capital. It is available for Rs5.99 lakh (ex-showroom, Delhi).
Malhotra said the company will introduce a new pick-up truck above 1.2-tonnage carriage capacity within the first six months of the next year.
Earlier, another auto-maker Tata Motors was understood to have decided to increase prices of its passenger vehicle models, except Nano and Aria, by up to 1.5% from January.
Volkswagen had said it would increase the prices of its small car Polo by over 2.9% with effect from 1 January, 2011.
Major car makers such as Hyundai Motor India and General Motors had also announced to increase the prices to offset the pressure from raw materials, including natural rubber, from next year.