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Price Hike Alert: Mahindra Thar's Entry-Level Variants See Price Hike In May 2024
The Indian SUV market is witnessing a slight adjustment as Mahindra Thar, the country's top lifestyle SUV, sees a price increase for May 2024. This change, affecting the most affordable variants, comes as Mahindra gears up for the launch of the Thar 5-door SUV.
Price Adjustment Details
Mahindra's strategy appears to be focused on strengthening its position in the SUV segment. Following the launch of the XUV3XO, the company is looking to outperform competitors like Brezza and Nexon. With the introduction of five new electric SUVs and the 5-Door Thar, significant growth is expected for Mahindra.
The price hike announced is specifically for the Thar 3-Door variant, with an increase of Rs. 10,000 targeting the entry-level models. This adjustment has set the starting price of the base AX (O) Diesel MT RWD variant at Rs. 11.35 lakh, up from Rs. 11.25 lakh.
Similar adjustments have been made to the LX Diesel MT RWD and the LX Petrol AT RWD models. With this revision, the most budget-friendly LX variant now begins at Rs. 12.85 lakh for the LX Diesel MT RWD.
For those preferring an automatic transmission, the starting price is Rs. 14.1 lakh for the LX Petrol AT RWD. It's important to note that these revisions are confined to just these three variants, leaving the pricing of other models untouched.
Impact On The SUV Market
The introduction of the new Thar in 2020 marked a turnaround for the lifestyle SUV segment in India. Previously seen as lacking in basic comforts and features, Thar's arrival brought a feature-rich experience coupled with a robust, appealing design. This has significantly contributed to its dominant position in the market.
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Compared to rivals like the Maruti Suzuki Jimny and Force Gurkha, Thar has maintained a commanding lead in sales. For instance, in April 2024 alone, Thar saw over 6,000 units sold, vastly overshadowing Jimny's 257 units. The upcoming Thar Armada is expected to further enhance the allure of the Thar brand.
As Mahindra continues to expand its SUV lineup with innovative models like the Thar Armada, the landscape of the Indian automobile market is set for an exciting shift. The price revision for the Thar variants reflects the brand's strategic positioning as it prepares for future launches.
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