Mahindra XUV500 Electric
Mahindra XUV500 Electric

Automobile major Mahindra & Mahindra on Friday raised the prices of its range of personal and commercial vehicles by around 1.9 per cent resulting in an increase of Rs 4,500 - Rs 40,000, depending on the model and variant.

Accordingly, the new prices will become effective from the day.

The company said in case of 'All New Thar', the current price increase will be effective for all bookings done between December 1, 2020 and January 7, 2021.

According to Veejay Nakra, CEO - Automotive Division, M&M: "The price increase was necessitated due to unprecedented increase in commodity prices and various other input costs over the past many months."

"We have made all efforts to reduce our costs and deferred price increase for a significant duration, but due to the quantum of input cost increase, consequently we are taking this price increase effective January 8, 2021."

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