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M&M to raise prices of tractors from Jan 1

Mahindra & Mahindra (M&M) on Monday said that it will increase prices of its tractors across models from January 1 next due to the increase in input costs.

Agri machinery Escorts tractor sales jump 49% in January 2021
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Agri machinery Escorts tractor sales jump 49% in January 2021

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Mumbai, Dec 21 Mahindra & Mahindra (M&M) on Monday said that it will increase prices of its tractors across models from January 1 next due to the increase in input costs.

The company, however, has not revealed the details of the price increase and has said in a regulatory filing that it will communicate the same in due course.

"Mahindra & Mahindra's farm equipment sector today announced that effective January 1, 2021, the company will increase the price of its range of tractors across models. This has been necessitated due to the increase in commodity prices," it said.

The announcement comes days after the automobile major said that it will increase the price of its vehicles from January 1, 2021.

Shares of Mahindra & Mahindra on the BSE are currently trading at Rs 711.00, lower by Rs 21.05 or 2.88 per cent from its previous close.

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