Why Mahindra decided to increase prices of Scorpio, Bolero, TUV 300 and other personal vehicles
Mahindra & Mahindra Ltd. (M&M) has officially announced that effective July 1, 2019, the price of its range of personal vehicles will increase by up to Rs. 36,000 across models.
Mahindra & Mahindra Ltd. (M&M) has officially announced that effective July 1, 2019, the price of its range of personal vehicles will increase by up to Rs. 36,000 across models. The reason that M&M has cited behind the price hike move is AIS 145 Safety Norms. Here is what you need to know:-
- The price increase is due to the implementation of AIS 145 Safety Norms across all passenger vehicles in India
- The implementation of AIS 145 Safety Norms from July 1, 2019 mandate the fitment of several safety features including driver airbag, seat belt reminder for driver and co-driver, rear parking sensors and an over speed alert for the driver across all passenger vehicle models.
Models to be impacted?
Mahindra SUVs that will take a substantial price increase are:-
-Scorpio
- Bolero
-TUV300
- KUV100 NXT
While brands such as the XUV500 and Marazzo will increase prices marginally.
Confirming the price hike development, Rajan Wadhera, President - Automotive Sector, M&M Ltd., “At Mahindra safety has been at the core of our product development process and we welcome the regulatory requirements relating to safety upgrades. We value every road user’s life and have been effectively contributing to the evolving safety ecosystem.”
"However, the safety regulatory requirement has led to some cost increases. Consequently, we are taking a price hike across some of our passenger vehicles, effective July 1, 2019," Wadhera added.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How soon will monthly SIP of Rs 6,000, Rs 8,000, and Rs 10,000 reach Rs 5 crore corpus target?
SBI Guaranteed Return Scheme: Know how much maturity amount you will get on Rs 2 lakh, 2.5 lakh, 3 lakh, 3.5 lakh and Rs 4 lakh investments under Amrit Vrishti FD scheme
SBI Senior Citizen FD Rate: Here's what State Bank of India giving on 1-year, 3-year, 5-year fixed deposits currently
SBI Senior Citizen Latest FD Rates: What senior citizens can get on Rs 7 lakh, Rs 14 lakh, and Rs 21 lakh investments in Amrit Vrishti, 1-, 3-, and 5-year fixed deposits
06:20 PM IST