Mahindra Share Price Today: Slumps 6.4% as It Slashes Prices on its Flagship XUV700 

M&M shares fell 6.4% after the company announced a temporary price cut of up to ₹2 lakh on its top-end XUV700 variant to boost sales and accessibility.
Mahindra Share Price Today: Slumps 6.4% as It Slashes Prices on its Flagship XUV700 

Mahindra & Mahindra (M&M) shares tumbled 6.4% as the company announced a temporary price cut of up to ₹2 lakh for its top-end XUV700 variant, the XUV700 AX7. The new pricing aims to boost sales and make the feature-rich trim more accessible to buyers.

The price reduction comes ahead of the XUV700’s third anniversary. The AX7 Petrol-MT 6-str, for instance, is now priced at ₹19.69 lakh, down from ₹21.54 lakh, a decline of ₹1.85 lakh.

Also Read: Sahaj Solar Limited IPO’s GMP is ₹145 

The price cuts by M&M and Tata Motors on their SUV models as a sign of weakened demand in the segment. This trend is attributed to reduced inquiries and postponed purchases, exacerbated by extreme heat waves affecting consumer behavior.

Despite the price cuts, the XUV700 has been a success story for M&M, becoming the fastest Mahindra vehicle to achieve 1.5 lakh+ sales within 30 months of launch. The company’s SUV revenue market share also grew by 130 basis points to 20.4% in FY24.

The price reductions and market trends suggest the need for automakers to adapt to changing consumer preferences and market conditions. However, M&M’s strong performance with the XUV700 indicates the company’s ability to address evolving customer demands in the SUV segment.

Loading
Read More News

STOP PAYING

₹ 20 BROKERAGE

ON TRADES !

Trade Intraday and Futures & Options