Mumbai: Passing on the burden of 1% additional education cess on excise levied by government in the Union budget, automotive major Mahindra and Mahindra has increased the price of its utility vehicles in the range of Rs150 to Rs1800.
“The price increase is minimum at Rs150 for our three-wheeler product and maximum at Rs1800 for high-end sport utility vehicle Scorpio,” said Pawan Goenka, president automotive sector, M&M on the sideline of an event to launch new version of its sports utility vehicle (SUV) Bolero.
The company launched new versions of its popular suv Bolero DI priced at Rs4,58,00 and Bolero SLX at Rs5,60,000 ex showroom Bangalore.
The company said it has also invested Rs150 crore in its plant in Nashik to enhance its capacity from 1 lakh to 1.5 lakh vehicles a year. The company primarily makes its popular sports vehicles Bolero and Scorpio from this plant.