Mahindra to raise vehicle prices by up to 3 pct in 2012

Friday, 16 December 2011 01:47 - - {{hitsCtrl.values.hits}}

REUTERS: Mahindra & Mahindra Ltd, India’s largest utility vehicles and tractor maker, will raise its prices by up to 3 percent from January due to rising input costs, the company said in a statement on Thursday.

Maruti Suzuki, India’s top carmaker, said this month it may raise prices after December, and South Korean carmaker Hyundai Motor (005380.KS), India’s No. 2, said last week it would raise its prices in India by about 1.5 to 2 percent from January.

Car sales in Asia’s third-largest economy are likely to only break even in the current financial year that ends in March, due to high interest rates and rising input costs, an industry body said this month.