A release from the company stated that the rise has been "necessitated by a significant increase in input costs". The increase in prices will be effective from May 19.
The hike will be made across the company's range of utility vehicles, three-wheelers and pick ups. M&M produces and sells the Scorpio and Bolero brands utility vehicles alongwith the Alfa and Pick-up brands in the three-wheeler and pick-up range respectively.
M&M's decision of raising prices follows a similar step of Japanese car major Honda Siel Cars which had raised its prices on the Civic sedan by Rs 10,000 on May 5.
Two wheeler major Hero Honda too had raised its prices last month between Rs 500 and Rs 1,000 on similar accounts.
