More Expensive Mahindras Starting January 1

Indian manufacturer Mahindra & Mahindra will increase prices on all of its models starting January 1, but it hasn't provided specific details on how expensive each vehicle is going to be. The main reason behind its decision to hike prices in the country is the high costs of the necessary materials to manufacture the vehicles, so the company has to adjust the final price of the models to cope with the increasing production costs.

"There will definitely be a price increase in January and we are finalizing it at present. It will be across all categories (passenger and commercial vehicles)," Mahindra & Mahindra (M&M) senior vice-president (Sales and Customer Care, Automotive Sector) Arun Malhotra was quoted as saying by the Economic Times.

The company is recording increasing sales in 2010, with November bringing a growth of 25 percent in exports for the auto division of the group. Mahindra new car sales posted an 18 percent increase as compared to the same month of the previous year, delivering 26,666 units over 22,589 units one year ago.

The Indian manufacturer is looking to boost the success of its product lineup with the introduction of the new Thar SUV that is being rolled out across India this month.

“Having realized the potential of this emerging segment of offroad enthusiasts and lifestyle seekers, we have launched the Thar in India. The Thar is an extension of our legacy and what Mahindra stands for. Popular amongst generations of off-road enthusiasts, style seekers and even war-veterans, not many vehicles share the same legendary past and iconic status of the Mahindra Thar," Arun Malhotra, Senior Vice President, Sales and Customer Care, Automotive Division, Mahindra & Mahindra Ltd. said.