Tata Motors and Mahindra Slash SUV Prices to Stimulate Demand

Tata Motors and Mahindra & Mahindra have cut the prices of their SUV models to boost demand. Tata Motors has revised the starting prices of its flagship SUVs, the Harrier (Rs 14.99 lakh) and the Safari (Rs 15.49 lakh) and extended benefits of up to Rs 1.4 lakh on other popular SUV variants.

"With regards to electric vehicles, never before seen benefits on the Nexon.ev (up to Rs 1.3 lakh), have made it the most accessible it has ever been," Tata Passenger Electric Mobility Chief Commercial Officer Vivek Srivatsa said in a statement. Complementing the same, the Punch.ev too is being offered with a benefit of up to Rs 30,000, he added.

Mahindra & Mahindra said its XUV700's fully-loaded AX7 range now starts at Rs 19.49 lakh, a price cut of over Rs 2 lakh. The price cut will enable more people to experience the range, it added.

In a regulatory filing, M&M clarified that there is no linkage between the price cut on certain XUV700 variants and UP EV/hybrid policy. The announced price cut of XUV700 is a continuation of the company's business strategy execution, it said.

"The demand for the XUV700 continues to be robust and we have increased our manufacturing capacity in line with demand," it stated. The new XUV700 bookings in June were 23 per cent higher than in May and there is no concern about unsold inventory, it added.