Following Maruti Suzuki and Hyundai, utility vehicle major Mahindra plans to increase the prices of its products. The prices of Scopio, Bolero and Xylo might go up by up to Rs8000. “This increase would be in the range of Rs 3,000 to Rs 8,000 depending on the model and will be effective from October 1, 2010,” Mahindra & Mahindra said in a statement.
Mahindra says the higher raw-material costs and implementation of Bharat Stage III emission norms from next month across the country are the factors behind the price hike.
“We have been holding back this raise for a while, but now it has become imperative to raise prices especially as the prices of raw materials have been on the rise,” M&M Chief Executive (Automotive Division) Rajesh Jejurikar said.