Mahindra recently announced a price revision for its lineup of SUVs which is scheduled from January 2024 and will increase the price of the cars. The brand will reveal the revised price list of each of the models at a later date.
Was it a Necessary Price Hike?
The reason behind the price rise by the carmaker is none other than the age-old inflation which increases the price of everything from car parts and other commodity prices. The brand claims that efforts have been made to take in as much of these additional costs as possible, however, the customer has to bear a portion of it, in order to sustain operations and continue delivering quality vehicles and services. However, this price hike will not be the same across the entire company’s lineup of SUVs and commercial vehicles and the extent of the increase will depend upon the particular model.
This decision by Mahindra highlights the challenging economic conditions faced by the automotive industry, where factors such as inflation and increasing prices of parts put immense pressure on the manufacturers, especially when they have committed to providing Customer affordability and excellent product and service quality.
Mahindra is also focusing on EVs in collaboration with Volkswagen, with the Vision Thar.e concept being showcased almost two months ago. This price hike will also put less strain on the brand since the R&D costs of EVs are pretty high.
Well, we can’t blame this on Mahindra since a business runs on profits after all and Mahindra is actually a late joiner in the bandwagon of carmakers to announce a price hike at the end of the year. Other brands such as Maruti, MG, Tata, Hyundai, and Audi have already announced that the prices of their models will be increased from next month.
