"There will definitely be a price increase in January and we are finalising it at present... It will be across all categories (passenger and commercial vehicles)," said Mahindra & Mahindra (M&M) Senior Vice-President (Sales and Customer Care, Automotive Sector) Arun Malhotra..
He, however, declined to comment on how much could be the price increase on M&M's models.
The prices of all raw materials, especially rubber and steel components, have gone up in recent times, he added.
The company on Tuesday showcased its latest utility vehicle 'Thar' in the National Capital. It is available for Rs 5.99 lakh (ex-showroom, Delhi).
Malhotra said the company will introduce a new pick-up truck above 1.2-tonnage carriage capacity within the first six months of the next year.
Earlier, another auto-maker Tata Motors was understood to have decided to increase prices of its passenger vehicle models, except Nano and Aria, by up to 1.5 per cent from January.
Volkswagen had said it would increase the prices of its small car Polo by over 2.9 per cent with effect from January 1, 2011.
Major car makers such as Hyundai Motor India and General Motors had also announced to increase the prices to offset the pressure from raw materials, including natural rubber, from next year.
[ via businesstoday.in]
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