The Indian Express (Delhi Edition)
Tata Motors, M& M slash prices for entire SUV range up to ` 2 lakh
TATA MOTORS on Tuesday slashed prices of its entire SUV range and Mahindra & Mahindra its XUV 700AX7 variants by up to Rs 2 lakh.
The discounted prices for Mahindra & Mahindra’s ( M& M) XUV 700 variants will be available for four months. For Tata Motors’ sports utility vechicle ( SUV) models such as Punch, Nexon, Safari and Harrier, the price reduction of up to Rs 1.4 lakh will be in effect till July 31. The price reductions come amid a massive inventory pile- up at dealerships.
M& M, one of India’s largest SUV makers, announced the biggest cut on the XUV 700 prices since its launch, reducing it by up to Rs 2.01 lakh ( ex- showroom) on the top variant. The base variant of the XUV 700 AX7, which now starts at Rs 19.69 lakh, saw a reduction of Rs 1.7 lakh. All other variants saw similar cuts. The revised pricing aims to make the XUV700 “even more accessible to a broader range of customers while providing exceptional value, the Mumbai- based company said.
Tata Motors, India’s thirdlargest carmaker, announced slashing prices of its entire SUV range by up to Rs 1.4 lakh. The revised price of its flagship SUV Harrier now starts at Rs 14.99 lakh and that of the Safari at Rs 15.49 lakh.
The Nexon. ev, one of India’s highest- selling EVS, will see the biggest price reduction since its launch. Its prices have been cut by up to Rs 1.3 lakh. The Punch. ev too is being offered with a benefit of up to Rs 30,000.
Tata Motors said that the price reduction is part of the celebrations of the company clocking two million SUV sales.
The price reductions come at a time stocks are laying unsold for an average 67 days, forcing dealers to offer discounts.
The drop in sales is the result of a slowdown in retail demand which has impacted all segments of the industry. June marked the biggest- ever fall in electric passenger vehicle sales by volume. Dealers have asked vehicle manufacturers to go slow on supplies to avoid a further pileup of inventory.