Auto major Mahindra & Mahindra has said that it will raise the prices of its entire range of vehicles by up to 3 per cent from January 1 due to rising input costs.

The company in a statement said that Mahindra & Mahindra would be raising the prices of its products by up to 3%depending on models. It added that the upward price revision will be effected due to rising input costs over the last few months.

Besides higher raw material prices, Indian auto makers’ margins are under pressure due to the sharp fall of the rupee against the US dollar in recent months.

To mitigate the impact, carmakers such as Renault, Nissan Motor, Hyundai Motor, Ford, General Motors and Toyota Kirloskar have also announced hikes in the prices of their vehicles by up to 3% from January 1.

(Sourced from TOI)