Mahindra has announced a price hike across their entire range of passenger as well as commercial vehicles. As per the official media release, price has been increased in the region of 0.5 – 2.7%, resulting in an increase of Rs 5,000 – Rs 73,000, across its models.
Rajan Wadhera, President Automotive Sector, M&M Ltd., “This year has seen record high commodity price increases. Further there are regulatory requirements effective April 1st that have also led to cost increases. While we have made efforts to reduce our costs, it has not been possible to hold back the price increase. Consequently we are taking a price increase from April 1, 2019.”
The price hike will also affect prices of Mahindra’s newly launched trio of Marazzo, Alturas and XUV300. Though the car maker has not revealed the exact change in prices, more details will be available at a local dealer.
All three new cars from Mahindra, XUV300, Marazzo and Alturas have been off to a good start, as far as sales is concerned. Marazzo has been steadily managing average sales of 3,000 units ever since launch, while Alturas, the most expensive Mahindra car on offer, managed to register sales of 460 units in Feb 2019, which is an impressive number for the segment it is on offer.
XUV300, which was launched on 14th Feb, managed to register sales of over 4,400 units. This despite the fact that it was launched in the middle of a month. It has now become the 3rd best selling SUV in the sub 4 m SUV segment, behind Maruti Brezza and Tata Nexon. It has also become the 2nd best selling Mahindra car on offer currently.
Next, Mahindra is planning on launching electric version of XUV300. This will get powerful battery offering 250 kms range. It will have acceleration from 0 to 100 kmph in 11 seconds along with a top speed of 160 kmph. The electric powertrain is being developed by Mahindra Electric Mobility Limited in association with SsangYong. The battery pack will be stored under the seats to lower center of gravity. Once launched XUV300 EV customers will be able to avail benefits as part of the new FAME II scheme, which were recently introduced.