Mahindra & Mahindra, Honda Cars India and Tata Motors are looking to increase prices of their models from next month, mainly to offset higher input and operational costs.
“We are actively contemplating increasing the prices of our vehicles in April due to increase in input and operational costs,” Mahindra & Mahindra Chief Executive (Automotive Division) Pravin Shah told the news agency.
The company hasn’t decided by how much prices will be raised.
“We have not yet taken a final decision on the quantum and timing but this a matter we are seriously considering right now. It will happen for sure in April,” Shah said.
Sources in Honda Cars India said the company is considering a hike in prices next month. “The discussions are going on, there is a possibility,” the source said.
Tata Motors said it may increase prices of passenger vehicles by 1 to 2 per cent.