Latest Car News in India

Domestic carmaker Mahindra & Mahindra has said that it is going to hike the price of its entire range from January 2021. According to the company going through increasing cost of raw materials and other variables it is has become necessary to hike the prices of different vehicles. The details regarding the prices hiked on each vehicle will be announced soon by the company.

 

 

As far as the sales performance of the company in recent times is concerned, it would be interesting to know that it has recorded an increase of 4% in November this year. According to the sources the company sold out 42,731 units of vehicles in November 2020, compared to 41,235 sold during the same period last year. The company, however, recorded the decline in the demand for three-wheelers and the commercial vehicles heavier than 3.5-ton gross vehicle weight.

 

It is reported that the company will also hike the prices of its commercial vehicles range. The company has not yet announced the actual percentage of the hike on these vehicles also and will communicate soon in the coming days. Earlier the company had hiked the prices of the next generation of Thar SUV on November 30, 2020. The refreshed Thar was launched in the Indian car market on October 2, 2020, with the starting price of Rs. 9.80 lakh (ex-showroom price) for the entry-level trim.

 

Besides Mahindra & Mahindra, other carmakers like Maruti Suzuki India Limited, and Hyundai Motors India Limited have also announced to hike the price of their entire range with effect from January 2021. The practice of hiking the prices with the start of a new year has emerged as the latest trend among the auto manufacturers and interestingly the reason given by them is also the same. However, there are lots of automakers who are offering substantial discounts on their earlier vehicles at the end of the year to increase their sales.