Mahindra XUV700 Amasses 1.5 Lakh Bookings Despite Lengthy Waiting Periods

The production capacity of the XUV700 continues to be limited, partly due to the global semiconductor shortage

• The XUV700 bagged 50,000 bookings in the first two days and the next 1 lakh in less than a year.

• Its waiting period currently ranges between 18 and 24 months.

• Mahindra is looking to ramp up production from the current monthly average of 4,000-6,000 units.

• Mahindra understands that buyers are making these bookings knowing about the delivery wait time.

• The XUV700 currently retails from Rs 13.18 lakh to Rs 24.58 lakh (ex-showroom).

The Mahindra XUV700 continues to be an incredibly popular SUV and it has recorded more than 1.5 lakh bookings within a year from launch. This milestone is more impressive considering that the waiting period for the XUV700 can stretch up to 24 months.

Rajesh Jejurikar, Executive Director, Mahindra Auto, explained the XUV700 market situation. He said, “People who are booking now are booking knowing, and paying Rs 21,000, knowing that they’re going to get (the car in) 18-24 months. In a way, what many people are doing is anticipating the vehicle they want to change to and booking in advance, knowing that they have to wait, but not selling their existing vehicle at the moment.”

He also stated that Mahindra had observed only 10-12 per cent of booking cancellations for the XUV700, even among those who had got their booking done around the model’s launch in October.

Mahindra is looking to ramp up the XUV700’s production to bring down that long wait time but continues to be affected by the global shortage of semiconductor chips. 

• Mahindra XUV700 Excels At The Global NCAP Pedestrian And ESC Tests
• Mahindra XUV700 Price

Since the most popular variant of the XUV700 among buyers happens to be the tech-laden AX7L trim, which uses a couple of hundred chips, the semiconductor shortage and the XUV700’s production are closely interlinked. At present, Mahindra is able to produce anywhere between 4,000 and 6,000 units of the XUV700.

Mahindra’s tech-heavy midsize SUV is currently priced from Rs 13.18 lakh to Rs 24.58 lakh (ex-showroom). Customers will have to pay the prevalent price tag at the time of delivery, so it is likely that those who book an XUV700 today will be paying more for it in 18 months’ time, as price hikes are bound to happen in the interim.

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