Mahindra adopts aggressive pricing strategy with launch of new version of XUV500 | Livemint

Mumbai: In a bid to regain lost ground in the utility vehicle (UV) segment, home-grown auto conglomerate Mahindra and Mahindra Ltd has adopted an aggressive pricing strategy for the third-generation model of its XUV500 SUV (sport utility vehicle), launched Wednesday.

Introduced with a base price of Rs12.32 lakh (ex-showroom, Mumbai), the facelift costs almost Rs50,000 less than the on-road price of the outgoing second-generation variant.

However, the company did not cite market share losses as the primary reason behind the competitive pricing.

“Pricing is not a decision taken only for (gains in) market share; Mahindra is known for providing the best value to customers. There is a combination of things that will lead to a rise in market share, not just pricing,” said Veejay Nakra, senior vice-president, sales and marketing, at the firm.

Nevertheless, Nakra conceded that the sales figures would “go up substantially based on the price and value built in”.

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Mahindra adopts aggressive pricing strategy with launch of new version of XUV500 – Livemint.