MUMBAI: Mahindra & Mahindra (M&M), part of the Mahindra Group, has increased the prices of its personal and commercial range of vehicles by around 1.9 per cent, resulting in an increase of Rs 4,500 to Rs 40,000, depending on the model and variant.

The new prices will be effective 8 January 2021.

For instance, in the case of All New Thar, the current price increase will be effective for all bookings done between 1 December 2020 and 7 January 2021. All fresh bookings for All New Thar, effective 8 January 2021, will have prices as applicable on the date of delivery.

M&M CEO – automotive division Veejay Nakra said the price hike was necessitated due to unprecedented increase in commodity prices and various other input costs over the past many months. “We have made all efforts to reduce our costs and deferred price increase for a significant duration, but due to the quantum of input cost increase, consequently we are taking this price increase effective 8 January 2021,” he added.

Mahindra is the latest automaker to raise prices to offset input costs. Last month, Tata Motors announced an increase in retail price across its commercial vehicle range, effective 1 January 2021. Maruti Suzuki, Ford India, Honda Motors have also raised their prices with the onset of the new year.