Millennium Post

Mahindras hit 8% sales bump but hike prices 0.5%

Utility vehicles leader Mahindra and Mahindra on Monday announced a nominal 0.5 per cent price hike across all models, expect for the premium sports utility vehicles XUV 500 and the Rexton from its Korean arm, despite falling sales, which dipped nearly 8 per cent in June.

The company monthly sales for June fell to 38,092 units in June from 41,322 units a year ago, a fall of 7.8 per cent, the company said.
 M&M Automotive Division CEO Pravin Shah said the increase to protect margins from rising input costs arising from the falling rupee would translate into an upward movement in the prices to the tune of Rs 3,000 to Rs 6,000, depending on the model. The price increase is with immediate effect, he added.
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