With sales of 65,371 units through CY 2022, Mahindra XUV700 is the strongest competitor in the mid-size SUV segment. It commands a market share of 45.98 percent and total sales in the past year were more than double that of its closest competitor Tata Harrier. Considering its high demand, the waiting period of select models can range upto 10 months even as production lines are running to full capacity.
Mahindra had also introduced a price hike across the Scorpio by Rs 1 lakh in Jan 2023. Mahindra Scorpio N now ranges from Rs 12.74 lakh for its base petrol variant with the top spec diesel trim at Rs 24.05.
Mahindra XUV700 was launched in August 2021. Over the past year, prices had increased three times. Now, the company has opened 2023 with announcements of a fresh price hike for the XUV700. In Jan 2023. The price hike varies from 1.45 percent to 2.93 percent or by a minimum of Rs 32,000 to Rs 64,000 depending on variants.
Starting off with the base petrol variants, the XUV700 MX MT 5 seater gets no price hike along with its MX MT 5 seater diesel counterpart. Prices of these two models continue at Rs 13.45 lakh and Rs 13.96 lakh respectively.
XUV700 AX3 MT and AT 5 seaters now see a Rs 39,000 and Rs 41,000 price increase respectively to Rs 15.89 lakh and Rs 17.61 lakh. There is also a price hike across the AX5 MT and AT 5 and 7 seater variants ranging from Rs 41,000 to 47,000 while the top spec Mahindra XUV700 AX7 AT 7 seater L is now priced higher by Rs 50,000 to Rs 23.60 lakh from an earlier pricing of Rs 23.10 lakh.
Following the new price hike, Mahindra XUV700 diesel variants now range from Rs 16.39 lakh to Rs 25.48 lakh. The price hike for the base AX3 MT 5 seater is by Rs 39,000 to Rs 16.39 lakh from an earlier price tag of Rs 16 lakh which relates to a 2.44 percent price hike.
Prices were also increased by Rs 40,000 for the AX3 MT 7 seater to Rs 17.20 lakh. AX3 AT 5 is at Rs 18.33 lakh from an earlier Rs 17.91 lakh. Mahindra XUV700 AX5 AT 7 seater and MT 7 seater variants are now higher by Rs 45,000 to Rs 20.29 lakh and Rs 20.59 lakh respectively while AX7 MT 7seater L is higher by Rs 32,000 to Rs 22.32 lakh.
The XUV700 AX7 AT 7 seater gets the highest price hike of Rs 64,000. Following this price hike, the new price is at Rs 22.48 lakh from an earlier pricing of Rs 21.84 lakh. The top of the line AX7 AT L AWD is now at Rs 25.48 lakh from Rs 24.95 lakh.