M&M shares rally 4% after Mahindra launches new SUV to fight Tata Nexon
Shares of Mahindra & Mahindra jumped over 4% on Tuesday to hit a fresh record high of Rs 2,152.15 after the company launched a compact SUV named XUV 3XO in competition with its peers like Tata Nexon, Hyundai Venue and Maruti Suzuki Brezza.
Shares of Mahindra & Mahindra jumped over 4% on Tuesday to hit a fresh record high of Rs 2,152.15 after the company launched a compact SUV named XUV 3XO in competition with its peers like Tata Nexon, Hyundai Venue and Brezza.The price of the SUV starts from Rs 7.49 lakh. Appealing to multiple segments, XUV 3XO aims to transcend the expectations of the new-age SUV buyers. Each variant is tailored to meet the specific needs and preferences of its respective segment.
The vehicle has a first-in-segment skyroof, dual-zone climate control, 65 W USB-C charging, electronic parking brake with auto hold, 3 smart steering modes, and level 2 ADAS.
“With the launch of the XUV 3XO, starting at an attractive price of ₹ 7.49 Lakh, Mahindra is redefining what an SUV can be. Engineered to deliver 'Everything you want & more,' the XUV 3XO is designed to cater to a broad spectrum of customers. From those upgrading from a hatchback to their first SUV to luxury seekers looking for high-end features at a competitive price, the XUV 3XO offers a unique blend of innovation, safety, comfort, and performance. Each variant is a strategic response to the nuanced needs of different customer segments, effectively making each variant a disruptor in its segment,” said Veejay Nakra, President of M&M’s automotive division.
The XUV 3XO’s bookings will open online and simultaneously at Mahindra dealerships from May 15, 2024. The deliveries of the XUV 3XO will commence starting from May 26, 2024, states the company filing to the exchanges.
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Source: Stocks-Markets-Economic Times
