Mahindra & Mahindra: No Price Hike Without Raw Material Increase

Mahindra & Mahindra plans no vehicle price hikes unless raw material costs increase significantly. While price increases are common in January, the company aims to respect recent GST reductions. Any potential price rise will depend on clear cost increases, focusing on maintaining customer benefits from lower taxes.

Mahindra & Mahindra has announced it will not raise vehicle prices from January unless there is a significant increase in raw material costs. This revelation came from Rajesh Jejurikar, the company's Executive Director and CEO for auto and farm sectors, during a media interaction on Thursday.

While it is customary for carmakers to announce price hikes at the start of the year, Mahindra & Mahindra is taking a stand against unnecessary increases. Jejurikar emphasized that the company is committed to aligning with the recent GST reduction strategy, which aims to balance the market and benefit consumers.

The GST Council's decision to lower tax rates has benefited small and medium-sized cars, most large SUVs, and luxury vehicles. The company stated that only tangible manufacturing cost increases would justify any future price adjustments, maintaining its dedication to passing the GST rate cut benefits to customers.

(With inputs from agencies.)