Mahindra to hike prices only on tangible cost rise, won’t undermine GST cuts

Rajesh Jejurikar, Executive Director and CEO (Auto and Farm Sector) at Mahindra & Mahindra Ltd, has ruled out any immediate price hike, saying the company will act only if there is a tangible increase in raw material costs.

“We will not take price hikes right now unless raw material prices see a significant increase,” Jejurikar said. He added that Mahindra is mindful of the government’s recent GST reduction, calling it a “significant milestone step” for the industry and consumers.

“We will not do anything that undermines that strategy by driving prices up for profiteering. Price hikes will be purely cost-led, not habitual,” he said.

Mahindra & Mahindra Ltd clocked a record sales revenue of over Rs 8,000 crore in the first half of FY2026, driven by demand for its popular electric SUVs, the XEV 9e and the BE 6.

The automaker said it sold more than 30,000 units of the XEV 9e and BE 6 in the first seven months of this year. This performance has made Mahindra the No. 1 EV brand in India by revenue market share in the first six months of FY2026, the company said in a statement.