Mahindra eyes fresh SUV price hike as commodity costs rise

Mahindra & Mahindra is actively evaluating a fresh price increase across its SUV portfolio in response to surging commodity costs, with a final decision anticipated within two weeks, according to Nalinikanth Gollagunta, Automotive President and CEO of the company.

The move would mark a fourth price adjustment in 2024 for the automobile manufacturer. The company has already implemented three price hikes during the year—in January, April, and July—with the July increase representing a significant 2.7 per cent jump on SUVs.

"We're watching it very closely," Gollagunta said, noting the dynamic nature of commodity pricing. "We've already taken three increases this year, and that said, it's something that can be very dynamic, so we continue to monitor the situation closely."

The company remains non-committal on whether an additional price adjustment will materialise. "We'll probably take a call in the next couple of weeks on whether we need a price increase," Gollagunta said. "I can't say we will or we won't, but it's something we're looking at closely, given the recent price increases on commodities."

Automakers across India have faced mounting pressure from elevated input costs, with several manufacturers implementing sequential price adjustments to protect margins amid volatile commodity markets.