Monday, July 15, 2024

Tata Motors and Mahindra Reduce SUV Prices to Increase Demand

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Tata Motors and Mahindra & Mahindra have decided to cut the prices of their SUV models to increase demand. This move aims to make their SUVs more affordable and attractive to customers.

Tata Motors has revised the starting prices of its flagship SUVs, the Harrier and the Safari. The new starting price for the Harrier is now Rs 14.99 lakh, while the Safari starts at Rs 15.49 lakh. Additionally, Tata Motors is offering benefits of up to Rs 1.4 lakh on other popular SUV models.

Vivek Srivatsa, Chief Commercial Officer of Tata Passenger Electric Mobility, mentioned that there are also significant discounts on the electric vehicle Nexon.ev. Customers can now get up to Rs 1.3 lakh off, making the Nexon.ev more accessible than ever before.

Similarly, Mahindra & Mahindra has reduced the prices of its XUV700 SUV. The fully-loaded AX7 range now starts at Rs 19.49 lakh, which is a price cut of over Rs 2 lakh. Mahindra aims to allow more customers to experience the XUV700 range with this price reduction.

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In a regulatory filing, Mahindra & Mahindra clarified that the price cut on certain XUV700 variants is not related to the UP EV/hybrid policy. The company stated that this price reduction is part of their ongoing business strategy. They emphasized that the demand for the XUV700 remains strong, and they have increased their manufacturing capacity to meet this demand.

Mahindra also reported that new bookings for the XUV700 in June were 23% higher than in May, indicating robust demand. They assured that there are no concerns about unsold inventory.

These price cuts by Tata Motors and Mahindra & Mahindra are part of their efforts to boost SUV sales and attract more customers. By making their SUVs more affordable, both companies hope to see an increase in demand and overall sales.

Tata Motors and Mahindra & Mahindra are reducing the prices of their SUVs, including the Harrier, Safari, Nexon.ev, and XUV700, to boost demand and make their vehicles more accessible to a wider range of customers.

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