Mahindra raises prices of its portfolio of products

• Price hike in the range of Rs 3000/- to Rs 8000/-
• Increased prices wef October 1, 2010
• Increase due to higher raw material costs and  new BS III emission norms

Mahindra & Mahindra today announced that it would be raising the prices of its passenger as well as its commercial vehicle range. This increase would be in the range of Rs 3000/- to Rs 8000/- depending on the model and will be effective from           October 1, 2010. 

The increase is primarily due to the higher raw-material costs as well as the new Bharat Stage III emission norms.

Announcing the new prices, Mr Rajesh Jejurikar, Chief Executive, Automotive Division, Mahindra & Mahindra said, “We have been holding back this raise for a while but now it has become imperative to raise prices especially as the prices of raw materials have been on the rise. In addition, the new Bharat Stage III emission norms have also resulted in this price hike. As always, Mahindra remains committed to its customers”.

About The Mahindra Group
Mahindra embarked on its journey in 1945 by assembling the Willys Jeep in India and is now a US $7.1 billion Indian multinational. It employs over 1,00,000 people across the globe and enjoys a leadership position in utility vehicles, tractors and information technology, with a significant and growing presence in financial services, tourism, infrastructure development, trade and logistics. The Mahindra Group today is an embodiment of global excellence and enjoys a strong corporate brand image.

Mahindra is the only Indian company among the top tractor brands in the world. It is today a full-range player with a presence in almost every segment of the automobile industry, from two-wheelers to CVs, UVs, SUVs and sedan. Mahindra recently acquired a majority stake in REVA Electric Car Co Ltd. (now called Mahindra REVA), strengthening its position in the Electric Vehicles domain.

The Mahindra Group expanded its IT portfolio when Tech Mahindra acquired the leading global business and information technology services company, Satyam Computer Services. The company is now known as Mahindra Satyam.

Mahindra is also one of the few Indian companies to receive an A+ GRI checked rating for its first Sustainability Report for the year 2007-08 and has also received the A+ GRI rating for the year 2008- 09.