Mahindra XUV700 AX7 price cut: Here's the real reason for the offer

Mahindra XUV700 AX7 price cut: Here's the real reason for the offer

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Mahindra XUV700 AX7 variant recently received a massive price cut of around 2 lakh. Although valid only for four months and part of celebrations pertaining to the XUV700 completing three years in India, the company in a recent stock exchange filing further explained the reasoning behind the decision.

The Mahindra XUV700 AX7 variant now starts at 19.69 lakh as against 21. 50 lakh previously (ex-showroom prices). The price cut is across all versions of the XUV700 AX7 which comes with petrol as well as diesel engine options, manual and automatic transmission choices and six and seven-seat layout. Price of the range-topping XUV700 AX7 L has also been reduced temporarily to between 23.69 lakh and 25 lakh (ex-showroom).

In the stock exchange filing, Mahindra & Mahindra has highlighted how the decision stemmed out of a need for growth. "The announced price cut of 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."

Underlining how the XUV700 AX5 Select variant was launched earlier this year at a more affordable price point, Mahindra & Mahindra further informed that the most-recent price cut is a ‘well deliberated’ action. “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 XUV700: Key highlights

The Mahindra XUV700 comes in MX, AX3, AX5 and AX7 versions with variants under each of these. There is also a range-topping AX5 L (luxury pack) version of the SUV.

The XUV700 is powered by a 2.0-litre mStallion petrol motor that puts out 197 bhp and offers 350 Nm of torque. It also comes with a 2.2-litre mHawk diesel motor which offers 182 bhp and 450 Nm of torque.

The XUV700 also comes with multiple seat layouts and customers can choose between five, six and even seats in the model, depending on the range and variant selected.

The XUV700 is also fairly well kitted and the feature list includes Level 2 ADAS, Sony-powered speakers, panoramic sunroof, ventilated seats and more.

In the Indian car market, XUV700 competes against Hyundai Creta, Kia Seltos, Honda Elevate, MG Hector, Skoda Kushaq, Volkswagen Taigun and Tata Harrier.

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