Mahindra & Mahindra, on Wednesday, said it would hike prices of some of its models by 1-2 per cent soon to offset increasing input costs and inflation.

“We will be soon announcing a price hike of 1 to 2 per cent in order to offset increasing input costs and inflation,” Mahindra & Mahindra President (Automotive and Farm Equipment Sectors) Pawan Goenka told reporters here on the sidelines of a CII annual conference.

When asked about the SUV tax, he said the company was awaiting a clarification from the Finance Ministry after the issue was taken up by industry body SIAM as well as Ministry of Heavy Industries and Public Enterprises.

He said all of Mahindra’s SUV and multi-purpose vehicles had been impacted by the increase in excise duty to 30 per cent from 27 per cent, as announced in the budget.

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