Mahindra & Mahindra is planning to launch 9 new vehicle models across the various segments it operates in, including two-wheelers, by March 2011. Mr Pawan Goenka, the President of the company’s automotive sector, said that the new models will include the electric version of the Maxximo, which was showcased at the Delhi Auto Expo in January.

Meanwhile, the company also announced a hike in its model prices, ranging from Rs 2,500 for three-wheelers to Rs 18,000 for the Scorpio’s top-end variant. The increase in prices comes in response to the 2-percent hike in excise duty on all non-petroleum products, announced by Finance Minister Pranab Mukherjee as part of Budget 2010 last week. The excise on bigger cars too went up from 20 to 22 percent. Goenka said that the current price hike had been expected and would not harm the auto industry, but that a further increase in prices in April was a cause for concern.