Mahindra & Mahindra on Wednesday said it will hike prices of its passenger and commercial vehicle model range from January next year.

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This adjustment is in response to the rising costs due to inflation and increased commodity prices, the company said in a statement.

The company has made efforts to absorb as much of these additional costs as possible.

However, a portion of this increase will be passed on to customers, it added.

The extent of the price increase will vary across different SUVs and commercial vehicles, the automaker stated.