Key Points
Automaker Mahindra & Mahindra on Wednesday clarified that there is no linkage between its recently announced price cut of XUV700 variants and Uttar Pradesh's electric vehicle/hybrid vehicle policy...
"The announced price cut of XUV700 is a continuation of our business strategy execution that was articulated in our 14th February 2024 analyst meeting where we clearly outlined that we have to bring the average price point down to drive growth," the company said in a stock exchange filing...
"We kickstarted this effort with the launch of AX5 select variant in May 2024 and have also brought in a 3rd anniversary celebration variant for the higher-end XUV700 for a limited period of 4 months," M&M said...
We note that the overall volume of XUV700 has been around 6,000/month (15% of M&M's overall SUV volume), and as per our understanding, the Top 2 trims of the model (AX7 and AX7L) account for around 50-60% of volume, said domestic brokerage firm Axis Capital in a report rating M&M with an add and a target price of Rs 3,150 while stating that they are positive on M&M in the sector...
Previously, cars priced above 10 lakh incurred a 10% registration charge, but this fee has been eliminated as of July 1, resulting in price reductions of 1.5 lakh to 3 lakh, depending on the model and variant, according to a Maruti showroom sales manager in Noida...
