Planning to buy Mahindra XUV700? Be ready for waiting time of around 22 months

Thanks to strong consumer demand and ongoing dearth of semiconductor chips, the waiting time for Mahindra XUV700 has increased to as long as 22 months. The SUV that was launched in India in August last year has an outstanding customer pre-orders of around 70,000, the company's Executive Director Rajesh Jejurikar said in an interview. And even though the chip shortage has eased, the automaker is experiencing some supply chain issues.

While waiting period for existing models keeps ballooning, Mahindra launched the latest in its line-up a day before - the Scorpio-N. The model will be sold alongside its predecessor, which has now been renamed to Scorpio Classic. The vehicle has been priced at a starting range of ₹11.99 lakh for the Z2 Petrol MT variant with the pricing goes up to ₹19.49 lakh for the Z8 L Diesel MT variant. These prices are applicable for first 25,000 bookings (Read full report).

Speaking of powertrains, Mahindra doesn't have a strong EV lineup as yet, and currently sells only one passenger EV - the e-Verito. Jejurikar told Bloomberg that the EV-related pain points such as range anxiety and lack of charging infrastructure still need to be addressed in the country, and Mahindra doesn't see a tipping point for EVs until between 2025 to 2027. And by then, the company expects its electric SUV sales to comprise about 20% to 25%.

Mahindra, which unveiled a new look logo last year, is currently working on defending its market share in the large-format SUV segment from Tata Motors and Hyundai Motor. Mahindra had a leading revenue market share of 17.8% in the fourth quarter of fiscal 2022, followed by Tata, Hyundai and Hyundai affiliate Kia, as per data from automotive business intelligence provider JATO Dynamics.