M&M to hike passenger vehicles prices from July 1
Mahindra & Mahindra Limited has announced that it would hike the prices of its personal vehicles range by up to Rs. 36,000 across models to be effective from July 1, 2019. The price hike is led by the implementation of AIS 145 Safety Norms across all passenger vehicles in India.
The implementation of AIS 145 Safety Norms includes the fitment of several safety features like driver airbag, seat belt reminder for driver and co-driver, rear parking sensors and an over-speed alert for the driver across all passenger vehicle models.
Mahindra SUVs that will take a substantial price increase are Scorpio, Bolero, TUV300 and KUV100 NXT, while brands such as the XUV500 and Marazzo will see a marginal increase in prices.
M&M is part of the Mahindra Group which is a US$20.7 billion federation of companies. M&M enjoys a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world’s largest tractor company, by volume.
The stock of M&M opened at Rs. 632 per share, up by 1 per cent from the previous close of Rs. 625.95. However, in the afternoon trading session, it got corrected and was quoting Rs. 609.95 per share.