XUV 700 price cut not linked with UP's new vehicle policy: Mahindra and Mahindra

livemint.com:

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. 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," Mahindra and Mahindra further added.The fully loaded AX7 range of the XUV700 now starts at ₹19.49 lakh, according to Mahindra & Mahindra, a savings of more than ₹2 lakh.

It further stated that the price reduction will allow more individuals to try the range."The demand for the XUV700 continues to be robust and we have increased our manufacturing capacity in line with demand. Our new XUV700 bookings in June were 23% higher than May and there is no concern of unsold inventory as reported by certain news channels/newspapers.

We firmly believe that hybrid is an interim and costly solution. And, we have the readiness to offer high quality products for all solutions that our consumers desire," it stated.Companies like Maruti Suzuki India (MSIL), Honda Cars India (HCIL), and Toyota Kirloskar Motor (TKM), whose consumers can receive benefits of up to ₹3.50 lakh, are expected to benefit from the move.