Homegrown automaker Mahindra has announced that come April 1, 2019, its range of passenger and commercial vehicles will receive an upward price revision. The hike will fall between 0.5-2.7 per cent across models, which translates to a minimum increase of Rs 5,000 and a maximum of Rs 73,000. The automaker has cited a rise in commodity prices as the main reason for this step.

Here’s what Rajan Wadhera, who is the president of the automotive sector at Mahindra & Mahindra Ltd., said in an official statement:

This year has seen record high commodity price increases. Further, there are regulatory requirements effective April 1st that have also led to cost increases. Consequently, we are taking a price increase from April 1, 2019.

The company also mentioned that it did try and reduce costs. However, holding back on the price increase is something it can’t do anymore. With new, stricter safety and emission norms coming in, Mahindra will be pulling the plug on some of its low volume models, such as the Verito siblings.

Mahindra sells a range of passenger vehicles in India, including the Scorpio, XUV500, Marazzo, Bolero and the TUV300. It also introduced a new sub-4 metre SUV in India last month – the XUV300. It will be interesting to see how the price increase impacts the new entrant, which has received good traction.

Apart from conventionally-powered vehicles, Mahindra also has a couple of EVs (electric vehicles) under its passenger vehicle portfolio – the e Verito and the e2oPlus. Both models have been in existence for a while now and although they attract a lot of moral support from the industry, they have only been able to generate good numbers via collaborations with fleet services. Mahindra is also working on an electric XUV300, codenamed S210, which should see the day of light by next year.