Mahindra & Mahindra (M&M) on Thursday said it has raised prices across its range of models by 2.5 per cent.

According to the company, the move will result in an increase of Rs 10,000 to Rs 63,000 on the ex-showroom prices across the range, depending upon the model and the variant. The price hike will be effective from April 14, 2022.

In a regulatory filing made to the bourses, M&M said the price revision is a result of a continuous increase in prices of key commodities such as steel, aluminium and palladium among others.

“The company has taken necessary initiatives to partially offset the unprecedented hike in commodity prices to absorb the impact, passing a minimal percentage of cost increase to customers through a price revision. The company is working with its sales and dealer network to communicate the new prices to the customers appropriately,’’ M&M added.

Recently, Maruti Suzuki also said it was planning to raise prices.

“Over the past year, the cost of the company’s vehicles continue to be adversely impacted due to the increase in various input costs. Therefore, it has become imperative for the company to pass on some impact of the above additional costs to customers through a price hike,’’ Maruti had said in a regulatory filing.