Mahindra to increase prices of all cars by 2-3% in January 2012!

Mahindra & Mahindra has announced that it will be increasing the prices of its products by up to three per cent depending on the models. The price hike will be effective from January 2012.This price rise is being done due to the impact of rising input costs over the past few months according to a company statement.

CarToq spoke a Mahindra dealer who confirmed the imminent price hike. He mentioned that the Verito is going to be dearer by Rs. 23,000 i.e. 3% of its present ex-showroom price and that other models like the Scorpio, Xlyo, XUV500, Bolero etc too will see a similar hike in price.

Mahindra is not the only car maker to announce a price hike. Most car makers are planning to hike prices of their models by 2 – 3 per cent in January 2012, the reason for which again will be the rising input costs and depreciation of the Rupee.

In fact, Maruti Suzuki has already hiked the prices of its products by up to Rs. 10,000 on diesel cars such as Ritz, Dzire, SX4 and Swift.  Hyundai India too has announced an official price hike of 1.5-2% on all its models with effect from January 2012 due to rising inflation and rupee depreciation. Toyota Kirloskar Motors (TKM) India too, will likely hike the price of its cars such as Liva, Etios, Innova and Fortuner by 1-2% with effect from January 2012.

Further, there are speculations that government may hike the tax on diesel cars in this year.  Car sales have dipped drastically in the last couple of months and adding fuel to the fire, car makers have announced price hike. That coupled with the fact that banks have slightly increased the interest rate for car loans will burden potential car buyers in 2012. Also read: Mahindra’s line-up for the 2012 Delhi Auto Expo

Given below is table with the estimated starting price of all Mahindra cars post the price hike:

[table id=578 /]

*Prices mentioned are estimated prices of the base variants, actual prices and hike may vary