Mahindra & Mahindra Ltd. will increase prices across its SUV and commercial vehicle portfolio with effect from July 10, citing a rise in commodity costs, the automaker said in a press release.
The company said prices of its SUVs will increase by an average of 2.7%, while the commercial vehicle range will see an average price hike of 2%. The extent of the increase will vary across models and variants.
"The price revision has been necessitated due to the escalation in commodity costs," the company said.
This marks Mahindra & Mahindra's third price increase in the current financial year, following earlier revisions implemented in April and June.
(This is a developing story)
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