Mahindra & Mahindra Ltd. has announced price increases across its SUV and commercial vehicle portfolio, effective from July 10, 2026. According to the company's press release, the average SUV price increase will be 2.7%, while commercial vehicles will see an average price hike of 2%. The fresh price hike comes after Mahindra increased prices by up to 2.5% for its ICE SUVS and by up 1.6% for its CV range from April 6, 2026. The price hike will also be applicable to the automaker's electric vehicle portfolio, as reported by multiple sources. The extent of the increase will vary across different models and variants within the company's portfolio, with specific products experiencing varying degrees of price adjustments. The price revision comes after a strong start to FY27 for the company, with Mahindra selling 1,74,745 SUVs in the domestic market during the April-June quarter, up 15% year-on-year from 1,52,067 units in the year-ago period.
The automaker attributed the price revision to escalation in commodity costs, as stated in the company's official announcement. This represents the third price increase implemented by Mahindra & Mahindra in the current financial year, following earlier revisions in April and June. The company has cited rising input costs as the primary driver behind the latest price adjustments across its vehicle segments, with the price increase being attributed mainly to commodity cost escalations. According to industry sources, prices of essential materials such as steel, plastic and other metals have surged sharply since early March, with steel, non-ferrous metals and plastic prices surging between 10-30% in the last one year. The quantum of the hike varies across specific products within the company's portfolio, reflecting the ongoing cost pressures faced by automakers due to higher raw material prices.
The price hike announcement comes amid exceptional market performance for Mahindra, with the company reporting strong sales momentum across all segments. According to the latest reports, M&M's total sales, including exports, surged 37% to 1,06,207 units in June 2026, compared with 77,742 units in the same month last year. The company's domestic SUV sales rose 28% year-on-year to 60,393 units during the month from 47,306 units in June 2025, while commercial vehicle domestic sales stood at 26,076 units, registering a 35% year-on-year growth. The company's Farm Equipment Business also showed robust performance with total tractor sales of 59,935 units in June 2026, up 12% from 53,392 units in the corresponding month last year. The timing of these price hikes coincides with retail fuel prices seeing a sharp surge, with state-owned oil marketing companies increasing petrol prices by 7.8% and diesel prices by 8.6% in May 2026 due to the West Asia crisis.
Mahindra's SUV portfolio consists of popular models including the Scorpio range, Thar, XUV 3XO and XUV 7XO, among others, which are priced between ₹7.54 lakh and ₹25.07 lakh (ex-showroom). The entry-level XUV 3XO starts at ₹7.54 lakh, while premium EVs like the XEV 9e are priced over ₹25.07 lakh. The company's CV portfolio is categorised into SCVs (Small), LCVs/ICVs (Light/Intermediate), HCVs (Heavy), electric three-wheelers, and passenger buses. The extent of the price increase will vary across specific products within this range, reflecting the company's approach to managing cost inflation while maintaining competitive positioning in different market segments.
The price hike announcement comes alongside Mahindra's impressive financial results for Q4 FY26. The company reported a 48.5% jump in consolidated profit after tax (PAT) at ₹5,259.91 crore for the fourth quarter ended March 31, 2026, primarily driven by its auto and farm sectors. The company had posted a consolidated profit after tax of ₹3,541.85 crore in the corresponding period of the previous fiscal year. Consolidated revenue from operations in the fourth quarter stood at ₹54,891.55 crore, as against ₹42,585.67 crore in the year-ago period. For FY26, consolidated PAT was at ₹18,621.71 crore compared to ₹14,073.17 crore in FY25, up 32.32%. The board of directors has recommended a final dividend of ₹33 per ordinary equity share of face value of ₹5 each for the financial year ended March 31, 2026.
