Business Business. India’s fourth-largest automotive manufacturer Mahindra & Mahindra (M&M) has unveiled the much-awaited Thar Rocks on Independence Day, aiming to strengthen its position in the sport utility vehicle (SUV) market. The company expects the Thar Rocks to become the leading product in the Rs 12.5 lakh category, where Mahindra currently has a 27 per cent market share. M&M aims to establish the Thar brand as the country’s best-selling SUV within three to five years. The Thar Rocks is priced at Rs 12.99 lakh for the entry-level MX-1 (petrol) model, while the diesel version starts at around Rs 13.99 lakh (ex-showroom). Prices of the higher-end variants will be announced later. “We are already leading the SUV category in terms of revenue market share and it is going to be the No. 1 SUV in the country,” said Veejay Nakra, president, automotive division, M&M. Currently, the production capacity of the Thar brand is 9,500-10,000 units per month. To become a leading brand, the company aims to achieve monthly sales of 14,000-16,000 units. M&M aims to reach a manufacturing capacity of 64,000 units per month (including electric vehicles/EVs) for the current financial year, while targeting 72,000 units for the next financial year. The company plans to produce around 10,000 EVs per month by the end of this financial year. “Half of the industry operates in the sub-Rs 12.5 lakh price segment, where Mahindra has a 13 per cent market share. In contrast, we hold a 27 per cent market share in the Rs 12.5 lakh category, accounting for 45 per cent of the industry volume.
“Our aim is to make our SUV brand the top choice in this segment within the next three to five years,” said Rajesh Jejurikar, chief executive officer, M&M. Among the top five models in the Rs 12.5 lakh category, M&M’s Scorpio ranks first, and the Mahindra XUV700 is fifth. Jejurikar hoped that the success of the recently launched Mahindra XUV3XO will help improve the company’s market share in the sub-Rs 12.5 lakh category. Bookings for the Thar Rocks will open online and at Mahindra dealerships on October 30, and test drives will begin from September 14, 2024. Deliveries will begin this Dussehra, allowing customers to buy their new Mahindra SUV at the earliest Mahindra India in Mumbai
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Designed at the Design Studio, engineered at the Mahindra Research Valley near Chennai and developed and tested at the Mahindra SUV Proving Track, the Thar Rocks is manufactured at Mahindra’s advanced facility in Nashik. The Thar brand has always been a cultural phenomenon, symbolising a strong sense of freedom and community. Taking this legacy forward, the Thar Rocks is an SUV that seamlessly combines striking design, a refined drive, powerful performance, superior off-roading capability, ultimate safety, luxurious space and advanced technology. With the Thar Rocks, we are not just elevating the SUV experience; we aim to make the Thar brand the top SUV in the Rs 12.5 lakh segment,” Nakra said. “The Thar Rocks represents a new era of sophisticated body-on-frame SUVs built on our all-new M-Glide platform. This state-of-the-art platform enables us to deliver the best of both worlds. R Velusamy, President, Automotive Technology and Product Development, M&M, said, “With great features like a panoramic sunroof, advanced Level 2 driver assistance systems and Harman Kardon audio, the Thar Rocks redefines the ownership experience and sets new standards in luxury and safety.”
