Mahindra & Mahindra to hike prices of its tractors from January

Mahindra & Mahindra (M&M) on Monday said it will hike prices of its range of tractors from next month in order to partially offset the impact of a rise in input costs.

In a regulatory filing, M&M's Farm Equipment Sector said, effective January 1, 2021, it will increase the price of its range of tractors, across models.

This has been necessitated due to the increase in commodity prices and various other input costs, the company added.

Details of price increase across different models will be communicated in due course, M&M said.

Last week, M&M had announced it will hike prices of its entire range of passenger and commercial vehicles from next month in order to partially offset the impact of rising in input costs.