Mumbai: 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, according to reports.Also Read - Mahindra Logistics acquires Meru, Aims To Consolidate Business in Enterprise Mobility Space

Accordingly, the new prices will become effective from the day. Also Read - Diwali 2021 Offers: Here Are All Benefits, Discounts On Your Favourite Maruti, Hyundai, Tata, Mahindra, Honda Cars

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. All fresh bookings for the Thar, effective January 8, 2021, will have prices as applicable on the date of delivery. Also Read - Mahindra Launches XUV700 in India; Check Starting Price, Other Details

Veejay Nakra, CEO – Automotive Division, M&M said, “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,” he added.

(With inputs from IANS)