Mahindra & Mahindra goes aggressive to regain market share with new Mahindra XUV700

The automobile giant in a statement released on October 7 claimed to have garnered unprecedented 25000 bookings under an hour (57 minutes) of the launch of Mahindra XUV700 SUV

Mahindra & Mahindra is back in the race of highly competitive SUV segment with its new Mahindra XUV700 SUV. 

The automobile giant in a statement released on October 7 claimed to have garnered unprecedented 25000 bookings under an hour (57 minutes) of the launch of Mahindra XUV700 SUV. 

“The volume of 25,000 XUV700s made available today at the launch prices reflects up to six months of production depending on the variant. It also makes the XUV700 the first four-wheeler in India to hit this milestone.” according to the company. 

The new XUV700 is priced between Rs 12.49 lakh to Rs 21.29 lakh for petrol and between Rs 12.99 lakh to Rs 22.99 lakh for the diesel version ranging from 5 and 7 seater capacity.

Just as the sector was experiencing a revival of demand in the aftermath of the pandemic, the badly jolted automobile sector hit another roadblock in the supply chain due to the shortage of semiconductors. 

In the month of September, Kia Seltos registered the best sales number in the SUV segment, overtaking Hyundai Creta and Maruti Suzuki Vitara Breeza. Others in the segment being MG Hector, Hyundai Alcazar, Tata Harrier, Safari. 

With the stupendous launch of its Mahindra XUV700 the automaker is all set to disrupt the mid-size SUV segment in India. 

The stock price of the giant automaker responded favourably with an upswing of 5.3 per cent on October 7 and is currently trading at Rs 880.10 with a gain of 0.2 per cent at 1.07 pm on October 8.