Source : PTI | Tata Motors and Mahindra & Mahindra have both cut prices on their SUV models in a bid to boost demand. Tata Motors has reduced the starting price of the Harrier to INR 14.99 lakh and the Safari to INR 15.49 lakh, alongside benefits up to INR 1.4 lakh on other SUV variants. Mahindra & Mahindra has also lowered the prices of its XUV700, with the AX7 range now starting at INR 19.49 lakh, illustrating a price reduction of over INR 2 lakh.
Tata Motors has enhanced its offers on electric vehicles. “With regards to electric vehicles, never before seen benefits on the Nexon.ev (up to INR 1.3 lakh), have made it the most accessible it has ever been,” said Tata Passenger Electric Mobility Chief Commercial Officer Vivek Srivatsa. The company is also offering a benefit of up to INR 30,000 on the Punch.ev.
Mahindra & Mahindra clarified its position in a regulatory filing, stating the price cuts are part of its business strategy. “The demand for the XUV700 continues to be robust and we have increased our manufacturing capacity in line with demand,” the company stated. They also observed that new XUV700 bookings in June increased by 23% compared to May, dismissing concerns of unsold inventory.
In the filing, Mahindra & Mahindra also addressed the UP EV/hybrid policy, explicitly noting, “There is no connection between the price reduction on certain XUV700 variants and the UP EV/hybrid policy.”
These strategic moves by Tata Motors and Mahindra & Mahindra are intended to make their SUV models more competitive in the market and more accessible for a broader range of customers.
