(Reuters) – Mahindra and Mahindra will increase prices of its SUVs and other commercial vehicles by up to 3% from April, the company said on Friday, becoming the latest Indian carmaker to raise prices to combat rising costs.
Already, market leader Maruti Suzuki, Tata Motors and Hyundai Motor India have said they will hike prices between 2% and 4% from next month.
These higher expenses are due to rising commodity prices, elevated import duties on raw materials and supply chain disruptions.
Mahindra and Mahindra said its price increases will vary depending on the model of the vehicle.
(Reporting by Ananta Agarwal in Bengaluru; Editing by Savio D’Souza)
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