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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 the registration tax on strong hybrid models to promote cars that are less harmful to the environment.
In such a situation, the question arises whether this has happened due to this policy of the UP government? On this, XUV manufacturer Mahindra & Mahindra has given its statement. The company has told the stock exchanges that there is no connection between the price cut and the policy of the UP government. They say that this has been done under the company’s policy decided in February 2024. The company had decided that the average price of cars would have to be reduced to increase sales.
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a well thought out decision
The company has said that it started reducing the prices 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 worth noting that the shares of Mahindra & Mahindra closed at 2730 on NSE with a decline of 6.70 percent.
UP government policy
The 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 the biggest beneficiaries of this decision. Their customers can get a discount of up to Rs 3.50 lakh on the price of their cars.
Tag: auto news, Mahindra & Mahindra
first published : July 10, 2024, 5:00 PM IST
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