Mahindra & Mahindra, Honda Cars India and Tata Motors are looking to increase the prices of their models from next month, mainly to offset higher input and operational costs.
“We are actively contemplating increasing the prices of our vehicles in April due to increase in input and operational costs,” Mahindra & Mahindra Chief Executive (Automotive Division) Pravin Shah told PTI.
Sources in Honda Cars India said the company is considering a hike in prices next month. “The discussions are going on, there is a possibility,” the source said. Tata Motors said it might increase the prices of passenger vehicles by 1 to 2 per cent.
Last month, M&M had reduced the prices of its passenger vehicles by between Rs.13,000 and Rs.49,000, after the reduction of excise duty. Honda Cars India had also cut the prices by as much as Rs.44,741.
