The name of domestic SUV maker Mahindra & Mahindra has also joined the list of those automakers. Which are going to increase the price of their passenger vehicles. The company has announced an increase of about 2 percent in the price of its vehicles. However, the second generation Thar, the brand's most popular off-roader SUV, has seen a price hike of up to 7 percent. The company has attributed the increase in prices to an increase in input cost.
For information, let us tell you that Mahindra Bolero has now become 2-3 percent expensive, the price of which has increased from Rs 22,452 to Rs 22,508. At the same time, the price of KUV100 has increased by Rs 2,672. Mahindra Marazzo has also become costlier by 2 percent, its price has increased from Rs 26,597 to Rs 30,867. With the increase in price from Rs 27,211 to Rs 37,395, the Scorpio has also become costlier by 2 percent.
The second generation Mahindra Thar has received the highest price hike from the company. The SUV has now become expensive by up to Rs 92,000. The new Thar has received an overwhelming response from buyers as the waiting period of the car has crossed 1 year in some cities. Mahindra is aiming to increase production to meet the growing demand. Due to the COVID-19 restrictions, the production of the SUV has remained at a low level. The price of Mahindra XUV300 compact SUV has been increased by 2 percent. This SUV has now become expensive by Rs 3,606 to Rs 24,029. The price of the XUV500 mid-size SUV has been increased by up to Rs 3,068.
Mahindra has announced the launch of 9 new SUVs in the Indian market by 2026. The company will soon introduce the new Bolero Neo, which will basically represent the TUV 300. Apart from this, Mahindra is also going to launch a 7-seater SUV, which will be called Mahindra XUV700. It will replace the XUV500 and compete with the MG Hector Plus, Hyundai Alcazar and the Tata Safari. Mahindra has also confirmed that the 5-door Thar lifestyle SUV will be launched in 2022-23. The new model will be built on a longer wheelbase and will get a more powerful engine. The next-gen Mahindra Scorpio will also arrive early next year.