Auto conglomerate Mahindra and Mahindra (M&M) said in its statement that the company’s vehicle booking crossed 15,000 for the 2020 version of its Thar SUV in the first 17 days of sales and it is planning to increase the production capacity for the model. M&M had earlier announced that its booking had crossed the 9000 mark within the first four days. The numbers shows relatively vigorous demand for the vehicle, mainly given the very poor sentiment in the market towards discretionary purchases on account of to the economic uncertainty caused by the coronavirus pandemic.
Sales of discretionary items, as well as sports utility vehicles, premium motorcycles and real estate have declined sharply as people are anxious about the sustainability of their livelihoods. The company updated - Today 57 percent of all buyers of the All-New Thar are first time car buyers and a significantly large share of all bookings is for the Automatic variants. In its previous update, M&M also said it received over 36,000 inquiries translating to a conversion rate of 25 percent or 9000 bookings. The company has now augmented to 65,000 enquiries in total. Deliveries will start on November 1, 2020.
The new Thar, starting at around Rs 10 lakh before RTO levies, is a very significant model for the company as it comes at a difficult time for Mahindra and Mahindra. The automaker, which used to dominate the reasonably priced and mid-range SUV category at one point, has seen its market share shrink on account of the expanding presence of India’s largest carmaker, Maruti Suzuki, into the category.
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