Mahindra & Mahindra on Friday said it will hike prices of its SUVs and commercial vehicles by up to 3 per cent from January next year.

The adjustment is in response to the rising costs due to inflation and increased commodity prices, Mahindra & Mahindra (M&M) said in a statement.

The automaker has made efforts to absorb as much of these additional costs as possible however, a portion of this increase will need to be passed on to customers, it added.

The extent of the price increase across different SUVs and commercial vehicles will be upto 3 per cent, the auto major stated.

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