Mumbai: Mahindra & Mahindra, India’s market leader in utility vehicles today announced a price revision for its highly successful vehicles, the Scorpio and Bolero.

The price hike in case of Scorpio is expected to be between Rs. 3000 to Rs. 13000 across the range including the highly successful CRDe variants.

While in case of Bolero, the country’s leading utility vehicle, the price hike will range from Rs. 5600 to Rs. 6500 across all variants.

The new pricing for Scorpio & Bolero would be applicable from last week of January 2007.

Commenting on the price hike, Rajesh Jejurikar – Executive Vice President, Sales & Marketing, Automotive Sector, Mahindra & Mahindra said, 'The price revision for the SCORPIO and BOLERO has been necessitated due to increase in the input cost as well as other inflationary strain. However, in spite of the price revision we have ensured that the competitive pricing differential of both the vehicles is maintained, ensuring that it still remains a strong value proposition for car buyers.'

About the Mahindra Group

The US $3.8 billion* Mahindra Goup is among the top 10 industrial houses in India. Mahindra & Mahindra is the only Indian company among the top five tractor manufacturers in the world and is the market leader in multi-utility vehicles in India. It has a leading presence in key sectors of the Indian economy, including trade and financial services (Mahindra Intertrade, Mahindra & Mahindra Financial Services Ltd.), automotive components, information technology & telecom (Tech Mahindra, Bristlecone), and infrastructure development (Mahindra GESCO, Mahindra Holidays & Resorts India Ltd., Mahindra World City). With over 60 years of manufacturing experience, the Mahindra Group has built a strong base in technology, engineering, marketing and distribution. The Group employs over 30,000 people and has several state-of-the-art facilities in India and overseas. The Mahindra Group has ambitious global aspirations and has a presence in five continents. Mahindra products are today available in every continent except Antarctica. M&M has made strategic acquisitions of plants in China and the United Kingdom & Europe, and has 3 tractor assembly plants in the USA. Its global subsidiaries include Mahindra Europe Srl. based in Italy, Mahindra USA Inc. and Mahindra South Africa. M&M has entered into partnerships with international companies like Renault SA, France, and International Truck and Engine Corporation, USA.