Mahindra & Mahindra (M&M) and Tata Motors have reduced the prices of some of their popular Sport Utility Vehicles (SUVs).
They have reportedly taken the step to stimulate demand. Additionally, other carmakers like Maruti, Hyundai and Honda are offering discounts on specific models to attract buyers.
Tata Motors has announced price savings of up to Rs 1.4 lakh on its two premium flagship SUV models. The Harrier now costs Rs 14.9 lakh, while the Safari is priced Rs 15.5 lakh. Even the Nexon (Electric Vehicle) EV is being offered at a Rs 1.3 lakh discount.
Meanwhile, Tata Passenger Electric Mobility chief commercial officer (CCO) Vivek Srivatsa described them as “never seen before benefits” for increasing vehicle accessibility. He further mentioned that the Punch electric is being offered with a benefit worth up to Rs 30,000.
Mahindra & Mahindra has also introduced a special edition of the XUV7OO with a price drop. The XUV7OO’s fully loaded AX7 series now starts at Rs 19.5 lakh (ex-showroom), a price drop of more than Rs 2 lakh. “The price reduction will allow more people to experience the range,” the company said, as reported by the Times of India.
After just three years of its launch, Mahindra & Mahindra celebrated producing its 200,000th unit of the model, which made it one of the most well-liked vehicles on the road.
Furthermore, these changes come just a day after the Uttar Pradesh government cancelled registration fees for powerful hybrid vehicles, effectively lowering on-road prices by up to Rs 3 lakh, as per Economic Times.
Car sales have struggled to approach the high levels seen in recent years. Reports state that a high base, as well as additional negatives such as severe summer heatwave, election uncertainty and pricey vehicles, have all contributed to weakened demand.
The top two carmakers, Maruti and Hyundai, reported a poor increase in dealership deliveries in June’s data. Hyundai, which is now gearing up for an IPO, saw a flat increase in dealer shipments at 0.2 per cent, while Maruti, which recently unveiled the new-generation Swift, saw a 3 per cent increase.
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