Mahindra & Mahindra Ltd, India’s second biggest SUV maker, said it was raising the price of its latest utility vehicle, Marazzo, by Rs 30,000-40,000 from January 1.
The utility vehicle costs Rs 10-14 lakhs ex-showroom in Delhi, and has been one of the most successful UV launches in recent years, not least because of the pricing.
“As mentioned at the launch, the price of Marazzo was an introductory one,” said Veejay Ram Nakra, Chief of Sales and Marketing at M&M.
“Effective January 1st 2019, we will be taking a price hike on the Marazzo, after a reasonable period of 4 months from its launch.”
The model, unveiled in August, hit the 10,000 booking milestone on October 19.
The company aims to sell about 4,000 units of the UV per month, and sold 2,829 units in September, the first full-month of sales.
Its biggest competitor, Toyota Innova Crysta, sells around 6,500 units per month, despite being priced about 40% higher.
Marazzo has been co-designed by the Mahindra Design Studio and the legendary Italian design house, Pininfarina.
It comes in both 7-seater and 8-seater configurations.
It is powered by a 123hp, 1.5-litre diesel engine coupled with a six-speed manual transmission and has four variants — M2, M4, M6, and M8.
Features like ABS, EBD, dual airbags and four-wheel disc brakes, central locking, power windows and rear AC are standard across the variants.
The top-spec M8 has 17-inch wheels, LED daytime running lamps, leather upholstery, cruise control, Android auto and a reverse camera.
The top two models — M6 and M8 — have seen the highest demand and have waiting periods of 2-4 weeks.