Scorpio-N record bookings help Mahindra shares to soar
Record bookings for the Mahindra Scorpio-N SUV has helped the Indian carmaker's shares to jump on Monday, two days after it opened the slots for its customers to pick their choice of SUV. Mahindra and Mahindra's automotive unit, which is registered as Mahindra Limited on Nifty, clocked more than six per cent increase in its share values today. The price of its shares hit ₹1,245 this morning in early trade. Mahindra and Mahindra clocked over lakh bookings on Saturday within the first 30 minutes. The carmaker mopped up nearly ₹18-crore worth of business, thanks to massive bookings on its latest SUV.
Mahindra Scorpio-N SUV can be booked at ₹21,000 through its digital platform. The carmaker has promised to start deliveries of Scorpio-N SUV from September 26, ahead of the festive season. The date of the delivery will depend on the variants picked by the customers. Mahindra has also said that customers will be able to modify their bookings by changing variant or choice of colour until midnight of August 15.
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Mahindra Scorpio-N SUV was launched in India at a starting price of ₹11.99 lakh (ex-showroom). The price goes up to ₹19.49 lakh for the Z8 L Diesel MT variant. The first 25,000 bookings will be able to get the benefit of Mahindra Scorpio-N's introductory prices.
Scorpio-N, which is the new generation model of Mahindra's popular Scorpio SUV, is offered with both petrol and diesel powertrains. The SUV also offers two-wheel drive as well as all-wheel drive option across its variants. Under the hood, the Mahindra Scorpio-N gets an mStallion petrol engine capable of churning out 200PS and 380 Nm or an mHawk diesel engine capable of delivering 175 PS and 400 Nm.
Mahindra Scorpio-N is the third new generation SUV model from the carmaker after the launch of Thar and XUV700. The new Scorpio-N will rival the likes of Tata Safari and Harrier, Hyundai Alcazar and Creta, Kia Seltos and the MG Hector and Hector Plus.