Mahindra & Mahindra Ltd.

Mahindra & Mahindra (M&M), India's largest utility vehicle maker is planning to increase prices of its entire range of vehicles by up to 3% from January 1 due to rising input costs. The upward price revision will be effected due to rising input costs over the last few months.

Besides higher raw material prices, Indian auto makers’ margins are under pressure due to the sharp fall of rupee against the US dollar in recent months.

To mitigate the impact, car-makers such as Renault, Nissan Motor, Hyundai Motor, Ford, General Motors and Toyota Kirloskar have also announced hikes in the prices of their vehicles by up to 3% from January 1.

Earlier in December, M&M reported a 53% rise in its auto sales numbers, which stood at 40,722 units during November 2011 as against 26,666 units during November 2010.