Mahindra & Mahindra Friday said it would increase the price of its newly launched multi-purpose vehicle (MPV) Marazzo by Rs 30,000 to Rs 40,000 from January 1, 2019.
The Marazzo was launched in September with introductory prices starting at Rs 9.99 lakh and going up to Rs 13.90 lakh, depending on variants.
"As mentioned at the launch, the price of Marazzo was an introductory one. Effective January 1, 2019, we will be taking a price hike on the Marazzo, after a reasonable period of four months from its launch," Mahindra and Mahindra Chief of Sales and Marketing Automotive Division Veejay Ram Nakra said in a statement.
The new MPV has been co-designed by the Mahindra Design Studio and Italian design house, Pininfarina.
It has been engineered in collaboration with the Mahindra North America Technical Technical Centre and the Mahindra Research Valley, Chennai.