Following last month’s price cut for top-spec AX7 and AX7 L, Mahindra has now reduced prices of some other variants of XUV700 as well
Last month in July, Mahindra celebrated XUV700’s third anniversary and the SUV’s production milestone of 2 lakh units. As part of the celebration, prices were reduced for the top-spec variants by up to 2.20 lakh. Mahindra has now introduced price cuts for select AX5 and AX3 variants with immediate effect.
XUV700 price cut – August 2024
In the latest price reduction exercise, XUV700 AX5 Diesel AT 7S has become cheaper by Rs 70,000. This variant is now available at Rs 20.39 lakh. Other variants that have their prices reduced include the AX5 Petrol MT 7S, AX5 Petrol MT 7S with ESP and AX5 Diesel MT 7S.
All these three variants are now cheaper by Rs 50,000. For the AX5 Diesel AT 5S and AX3 Diesel AT 7S, prices have been reduced by Rs 20,000. With the price revisions, Mahindra XUV700 is now available in the range of Rs. 13.99 lakh to Rs. 26.04 lakh.
Price cut to boost sales
Price cut for XUV700 could be aimed at improving the SUV’s sales. XUV700 is already a bestseller, and even better results could be obtained by making the SUV accessible at a lower price point. Mahindra’s sales breakup data for July reveals that XUV700 registered a YoY gain of 25.79%. The SUV contributed more than 18% to the company’s overall sales volumes in July.
XUV700 continues to be among the preferred options in the mid-size SUV segment. In July, XUV700 was ranked second with sales of 7,769 units. It commanded a market share of 28.29%. XUV700 is ahead of rivals like Tata Safari, Harrier, MG Hector and Hyundai Alcazar by a significant margin. Only the Mahindra Scorpio / N is ahead of XUV700. With the price cuts, XUV700 could register stronger sales in the coming months.
XUV700 EV (XUV.e8) – Mahindra’s next big launch
Beyond the price cuts, another big sales push will come from the electric version of XUV700. The XUV700 EV has been frequently spotted on road tests. It will go on sale as the XUV.e8. Launch is expected in December 2024 or in 2025. Mahindra will also introduce an electric coupe version of XUV700 that will go on sale as XUV.e9. Both XUV.e8 and XUV.e9 are based on Mahindra’s advanced INGLO platform.
With its born electric platform, XUV700 EV will be able to support more advanced features. For example, a higher number of ADAS features can be integrated. Test mules have revealed a triple-screen setup, which will be a segment-first offering. Other key highlights include a brand new 2-spoke steering wheel, soft touch materials, panoramic sunroof, ventilated seats, electrically adjustable front seats with memory and dual zone climate control.
Talking about performance, XUV700 EV will be equipped with a battery in the range of 60 kWh to 80 kWh. Both single motor and dual-motor AWD variants will be on offer. XUV700 EV is expected to have a range of around 500 km. It could be launched at a starting price of Rs 21 lakh.
