New Delhi: Mahindra and Mahindra is all set to hike Scorpio prices by Rs 5,000 to Rs 6,000 from January.
VP of the Marketing division at Mahindra and Mahindra, Rajesh Jejurikar says this price hike is mainly an attempt to cover cost increases.
The company does not see any adverse impact on sales due to this price hike. As of now, it is not considering any other price hike, he adds.
Excerpts from CNBC-TV18's exclusive interview with Rajesh Jejurikar.
Is this price hike meant to cover costs?
Yes, it is primarily to cover hike in costs, which have been happening in the last few months. January would be a good time for this, although this is not a significant price increase. It is just about Rs 5,000 to Rs 6,000.
Does it cover your entire cost increase? In case there are further cost-push pressures in the coming months, does it account for that also?
At this point, we do not anticipate that we would have to take anything immediately after this, and it would largely account for our cost increases.
Which input costs have gone up for M&M?
It is a combination of costs. It takes into account the fuel price increases and other factors, which were not passed on in the last few months. Therefore, it is an accumulation of these costs.
Is M&M now actively considering price increases across all categories?
At this point, we are not considering any other price increase in January, except for Scorpio.
Is this price ex-factory?
It does not include insurance and registration.
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