This milestone of 1 lakh units was achieved in 20 months since the Mahindra XUV700 SUV was launched in August 2021
It was a historical moment for Mahindra as the 100,000th unit of the XUV700 rolled off production lines. Launched in Aug 2021, production of XUV700 started in Sep 2021, while deliveries started in Oct 2021. Total sales in India have crossed the 92k mark by March 2023.
Including the exports over the years, and production of April 2023, XUV700 total production has crossed 1 lakh mark. Monthly sales average at around 4,881 units per month and such is the demand that waiting period of the Mahindra XUV700 currently stretches to up to 48 weeks for some variants.
100k Mahindra XUV700 SUVs
Mahindra XUV700 launched in August 2021 met with immediate acceptance in the market. It was opened for bookings from October 2021 and by June 2022, sales had crossed the 65,000 unit mark. Now 9 months later it has reached the milestone of 1 lakh unit production.
Following a recent price hike in April 2023, petrol variants of the XUV700 have been increased by up to Rs 74,000, while prices of diesel variants have been increased by up to Rs 71,000. Thus the XUV700 is now priced from Rs 14.01 lakh to 26.18 lakh. Despite the price hike, there is no decline in demand for XUV700.
Mahindra XUV700 is offered in 29 variants, in 5 and 7 seater options and in petrol and diesel powertrains. It competes with the Tata Harrier and Safari and MG Hector and Hector Plus, however the XUV700 accounts for sales well over each of these rivals. More recently, the XUV700 found a new competitor with the Innova Hycross with sales of the latter surpassing that of the XUV700 in March 2023.
A steady increase in sales has been noted since launch. Sales started off at 1,370 units in September 2021. It increased to 3,407 units in October 2021 and 4,119 units in January 2022. XUV700 Sales continued to rise each month with July, August and September 2022 seeing sales at an average of 6,000 units in each of the months. Thereafter sales dipped marginally but still continued to scale over each of its competitors by a significant margin.
Rising demand and shortage of essential supplies of semiconductors, hampered production which has led to longer waiting periods. As of February 2023, the XUV700 base MX variant commanded a 24-26 week waiting period while this goes up to 47-48 weeks in the case of range topping AX7 and AX7L variants.
Powering the XUV700 are a petrol and diesel engine option. These are 2.0 liter mStallion turbo petrol engine offering 197 hp power and 380 Nm torque mated to 6 speed manual and automatic gearbox options. It also gets a 2.2 liter nHawk diesel engine delivering 153 hp power and 360 Nm torque on its lower trims while on higher variants the same engine will offer 182 hp power and 420 Nm torque. Transmission options include 6 speed manual and automatic units with a 4WD system.