One of the lucky first 25k buyers, who managed to get booking done at introductory prices – Is now selling his Scorpio N at a premium
A wide array of unfounded or difficult to verify content passes through our online feeds daily. But this one is both hilarious and hopeful. There’s been a loads of discussions around the new Scorpio N, especially the fact that the manufacturer received 1 lakh bookings in half an hour. It is a phenomenal feat. The first 25k bookings were confirmed within the first minute.
While the experience wasn’t all too pleasant for all enthusiasts with some unable to access the payment gateway or payments failed. Keeping in mind that booking for all wasn’t hasslefree, the company has acknowledged all bookings according to their timestamp, and depending on this, introductory price is applicable. At the time of unveiling, the company had announced initial bookings at an introductory price so it’s not difficult to understand a frenzied booking attempt.
Its Pure Business
Deliveries for the first 20k units are scheduled between September end and December. Now on that front, there seems to be a workaround. The basic premise being those who have booked early could in fact resell their vehicle. Since one cant transfer a booking, one entrepreneurial gent is looking to take delivery of his vehicle, and sell the car at the time of expected delivery, i.e, October 2022 itself. And the transaction will entail a premium as the seller has quoted a sell price of Rs 27 lakhs.
The proposal isn’t altogether new, as we’ve oftentimes seen similar proposals on social media. If it works, and a buyer is found well within time, there’s quick cash to be made. And if the car has been booked primarily to offload for a quick premium, there must already be a market for it.
Mahindra Cars Demand Premium?
Mahindra is sitting on a huge order book of over 2.4 lakh cars. Majority of this is for XUV700, Scorpio N and Thar. Of these, Thar was launched first in 2020, XUV700 in 2021 and Scorpio N in 2022. Recently XUV700 bookings crossed the 1.5 lakh mark. Of this, the company has delivered about 50k units. There are some who had booked XUV700 in the first month of bookings opening, but are yet to get delivery. Because of huge demand, we have come across instances where buyers have had to pay a premium in getting ahead in the delivery queue.
Same is expected to be the case with the new Scorpio N. In fact, demand for new Scorpio seems to be a lot higher than that of the XUV700. Even after 1 year of launch, XUV700 waiting period for select variants is 2 years. Not all buyers will be this patient and thus are willing to pay the premium.
And at the rate car prices are increasing, you are probably going to pay about the same price 2 years down the line, that you will pay today along with the extra premium. At the time of launch, XUV700 price range was Rs 11.99 lakh to Rs 21.59 lakh, ex-sh. Today, in less than a year, the price range of XUV700 is Rs 13.18 lakh to Rs 24.58 lakh. That is a Rs 3 lakh increase in the ex-sh price of top variant in under 1 year.
Buying a new car which is in huge demand, and then selling it off for a premium is not new. We have seen that happening with XUV700. What is interesting this time is that the Scorpio N is on sale even before it is delivered to the said owner!