Mahindra & Mahindra to hike prices of various models by 50-150 basis points

Mahindra & Mahindra, country’s leading sport utility vehicle (SUV) manufacturer, is likely to increase prices of its various models by 0.50-1.5% in order to outset the impact of input costs on the profitability. In the recent past, the company has seen almost 2% increases in the input costs, primarily steel. 

The company has reported 9.53% rise in September auto sales at 48,342 units as compared to 44,137 units in September 2011. The half-yearly consolidated auto sales numbers for the period April to September 2012 stood at 2,67,266 units, up by 20% over the corresponding period of the last fiscal. The company’s passenger vehicles have registered a growth of 22% at 23,808 units.