Auto major Mahindra & Mahindra today announced an increase in prices of its passenger vehicles by Rs 5,500 to Rs 47,000, effective from 1 April, to offset excise duty hike in Budget 2016-17.
In absolute terms, prices will go up by Rs 5,500 to Rs 47,000, depending on the model and prevailing prices.Praveen Shah, Chief Executive, Passenger Car Business, Mahindra
Prices of recently launched KUV100, however, have been hiked with immediate effect. While the petrol model will be costlier by 1 per cent, the diesel model will be dearer by 2.5 percent. Following the Budget proposal to increase excise duty to the tune of 1-4 percent and an additional cess, almost all the automakers led by market leader Maruti have increased retail prices to pass on the duty increases and protect bottom lines.
Also read: Tata Motors to Hike Passenger Vehicle Price by Rs 35,000
(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)