Costlier commodities may force Mahindra and Mahindra to raise prices: Goenka

New Delhi, Nov 8 : Home grown auto Major Mahindra and Mahindra today said it may increase the prices of its vehicles, if commodity prices continue their upward march.

''Yes, price increase could happen if commodity prices go up further,'' M&M President (Automotive Sector) Pawan Goenka told reporters here on the sidelines of the World Economic Forum, organised by CII.

However, the company refused to specify any timeline for it.

Asked about the performance of the domestic auto industry he said the sector would fare well in this fiscal, provided some of its concerns are addressed.

''I am very optimistic about the industry but concerns like shortage of components supplies from Jaipur (due to IOC depot fire), commodity prices going up and government talking about increasing excise duties can have an adverse implication,'' said Mr Goenka, who currently holds the post the President of Society of Indian Automobile Manufacturers (SIAM), the apex auto body in the country.

Speaking about M&M's performance in the current fiscal, he said if the current trend continues, the company is hopeful of achieving a double digit growth.

''The sales for October were very encouraging and it grew 32 per cent. If it continues, we can have a double digit growth in this fiscal.'' On falling sales of Logan, Mr Goenka said a particular product's low volumes is a cause of concern, but taking the entire portfolio into account, ''it is ok.''

--UNI

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