The price of new Mahindra Scorpio is set to increase by Rs 10,000-20,000 over the next few weeks.
The model was launched in mid-March at an introductory price of Rs 655,000 to Rs 793,000 (ex-showroom Mumbai), which was the tag of the existing model then. The new Scorpio has 43 new value-added features.
"A price correction on the Scorpio will be announced shortly," said Vivek Nayer, vice-president, marketing, automotive, M&M.
An official at NBS International, an M&M dealer in Mumbai, said, "Depending on the model, the new Scorpio will cost Rs 10,000-Rs 20,000 more."
The Mahindra Scorpio achieved sales of about 35,000 units during 2005-06. In January, the price of the product was raised by Rs 6,000.
The Scorpio enjoys a market share of 32 per cent in the domestic premium utility vehicle market. It commands a market share of 12 per cent in the above Rs 500,000 category.
The new Scorpio rides on a five-zone rear suspension, fine-tuned by Lotus Engineering. It also features tubeless tyres.
The new variant comes with a macho front grille and large clear lens, headlamps complimented by a sporty new scoop on the bonnet. The all-new tail lamp runs all the way to the top.
Bajaj Auto is also planning to raise the price of its new entry level premium bike Platina (100 cc) by August.
The Platina was launched in early April at an introductory price of Rs 32,000-36,000.
"We will go for a price correction in two-three months," said S Sridhar, vice-president, marketing, Bajaj Auto. He did not comment on the exact quantum of the price revision. However, dealer sources in Mumbai said the Platina prices would rise by Rs 3,000-4,000.
Although, sales figure of the Platina was not available, industry analysts say good sales performance of the Platina is a key factor for Bajaj gaining in market share by more than 3 per cent in April.
