Car Prices in India | New Delhi: Mahindra & Mahindra Ltd, on Thursday, announced a 2.5 per cent hike in its car prices. The rates will be applicable from April 14. According to a report by Economic Times, the 2.5 per cent hike will result in a rise in Mahindra car prices from Rs 10,000 to Rs 63,000.Also Read – Diego Maradona And Inflation Trouble In India: A Peculiar Link | Explained
Also, the new prices will be effective from April 14, 2022. According to reports, the price hike was announced owing to a rise in the rates of key raw materials like aluminium, steel, and palladium due to the ongoing Russia Ukraine war. Also Read – Infosys Announces Withdrawal Of Business From Russia Over Ukraine Invasion
ET report quoted the company as saying that they have taken the necessary initiative to offset the hike in commodity prices to absorb the impact. Also Read – US Inflation Jumped 8.5% in Past Year, Highest Since 1981
The inflationary pressure is being felt by millions across the globe. Due to high crude oil prices, transportation costs have risen substantially. This has snowballed into high vegetable prices. According to the latest government estimates, the consumer prices in India rose by 6.95 per cent in March 2022. If other automakers follow the suit, the recovery of the auto sector may become more difficult.
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