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Demonetization Effect: Mahindra SUVs Available at Huge Discounts in Dec '16

Demonetization Effect: Mahindra SUVs Available at Huge Discounts in Dec '16

Snapshot: The discounts would be valid on the purchase of Mahindra SUVs till December 31, 2016.

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Mahindra & Mahindra (M&M), in what seems to be an attempt to ease the inventory pile up at the dealer outlets across the country due to demonetisation, is offering huge discounts on the purchase of its SUVs. An ETAuto report releaved that the discount is as high as Rs. 2.71 Lakhs on a few vehicles. The company informed its dealers on Thursday via video conference about the discount process. The dealers have their stocks full for nearly 40 days, while the sales have rapidly deteriorated post demonetisation as the major chunk comes from rural and semi-urban regions.

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Coming to the discounts, Mahindra's best-seller Scorpio SUV is available at discounts of upto Rs. 50,000, depending upon the variant and city. The Bolero SUV, which rules the roost in rural areas, is being offered with discounts worth Rs. 67,000. The company's entry-level SUV KUV100 attracts a discount of Rs. 73,000, while the home-grown automaker's flagship product, the XUV500, comes with a discount of upto Rs. 89,000. The sales of Mahindra KUV100 has been declining gradually for the past couple of months. The Mahindra-owned South-Korean brand SsangYong's Rexton SUV is being offered with the biggest discount of Rs. 2.71 Lakhs, depending upon the place, variant and a few other factors, in the Indian market as it is the costliest product in the entire company portfolio.

A source close to the development on the condition of annonymity revealed that these discounts would be vaild on the purchase of Mahindra SUVs till December 31, 2016. The Mumbai-based automaker's sales dropped by 24.29 percent in November 2016 as it sold 29,814 units in the month against the 39,383 units in the same month a year ago. Mahindra's arch rivals Maruti and Hyundai are also facing the same circumstances or perhaps even worse as they have higher inventories. Both these automakers might well offer similar discounts in the coming days to ease the pile up at their dealerships. Though, Maruti and Hyundai have registered positive growth in the monthly sales of November 2016 as compared to November 2015.

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