New Delhi. Mahindra has reduced the prices of its SUV cars. Mahindra’s XUV700 AX7 will now be available for Rs 19.49 lakh. This is a reduction of more than Rs 2 lakh from the old price. The price drop comes at a time when the Uttar Pradesh government has completely waived registration tax on strong hybrid models to promote cars that are less harmful to the environment.
In such a situation, the question is arising whether this has happened because of this policy of the UP government? XUV manufacturer Mahindra & Mahindra has given its statement on this. The company has told the stock exchanges that there is no connection between the price cut and the policy of the UP government. He says that this has been done as per the company policy decided in February 2024. The company had decided that to increase sales, the average price of cars would have to be reduced.
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deliberate decision
The company has said that it started the price decline with the launch of AX5. The company has said that this decision has been taken after careful consideration and keeping all aspects in mind. It is noteworthy that the shares of Mahindra & Mahindra closed at the level of 2730 on NSE with a decline of 6.70 percent.
UP government policy
Uttar Pradesh government has decided to remove registration tax on hybrid cars to promote eco-friendly cars. Maruti Suzuki, Honda Cars and Toyota Kirloskar seem to be benefiting the most from this decision. Their customers can get a discount of up to Rs 3.50 lakh on the price of cars.
Tags: auto news, Mahindra and Mahindra
FIRST PUBLISHED: July 10, 2024, 17:00 IST
