Closely following on the heels with the changing industry trends, automobile giants ‘Mahindra’ too are set to hike vehicle prices. The depreciation of Rupee against the Dollar and higher cost of production are the main attributes which the company highlights for the change in notion.
As per the decision by the top officials of Mahindra, a change in somewhat 2% of the basic price would come into effect by this week onwards. That means, a price change in the range of INR 6000 – 20000 could be the hike in current rates. According to company CEO Praveen Shah, the company held this decision for over a long period of time, but was forced to change it due to becoming unable to cope with the challenges posed by an adverse industry condition.
While earlier, country’s top car manufacturer ‘Maruthi Suzuki India’ too announced their decision in increasing the price of their models which are expected to be in the range of INR 10000 Rs. The changed price tags will come soon this year. Other industry leaders such as ‘Hyundai Motor India Ltd’ and ‘General Motors India’ have already increased the prices of their models in the range of INR 20000 Rs.
As of now, it is only ‘Tata Motors’, who hasn’t charged extra bucks for their models. But, the company has hinted a variation in the range of 1 ½ % of the basic price.