Mahindra & Mahindra shares rise 3% after Thar ROXX launch in Kochi at starting price of ₹12.99 lakh

Mahindra & Mahindra said in an exchange release that it has unveiled the Thar ROXX in Kochi, starting at a price of ₹12.99 lakh. Following the announcement, shares of M&M were trading over 3% on Friday.

M&M said advanced features of the Thar ROXX include twin HD screens – a touchscreen infotainment system and digital instrument cluster. It also offers Harman Kardon branded audio, a panoramic sunroof, luxurious soft touch leatherette dashboard and door trims. The starting price is ₹12.99 lakh for MX1 petrol model and ₹13.99 lakh for diese. According to the latest disclosed prices, the highest price for a variant stands at ₹20.49 lakh.

The vehicle will be available in seven different colors—deep forest, everest white, tango red, battleship grey, nebula blue, burnt sienna, and stealth black. The two-litre mStallion TGDi petrol engine offers a maximum power of 130 kW at 5,000 revolutions/minute (r/min) and a maximum torque of 380 Nm at 1,750-3,000 r/min. The 2.2 litre mHawk diesel engine offers a maximum power of 128.6 kW at 3,500 r/min with a maximum torque of 370 Nm at 1,500-3,000 r/min.

The Thar ROXX has been designed at the Mahindra India Design Studio (MIDS) in Mumbai and has been engineered at the Mahindra Research Valley (MRV) near Chennai. The vehicle was developed and tested at the Mahindra SUV Proving Track (MSPT) and was built at Mahindra's advanced facility in Nashik.

M&M said that bookings will open online and at Mahindra dealerships from Oct 03, 2024, and test drives will start from September 14, 2024. The firm pointed out that deliveries will commence during Dussehra.

Veejay Nakra, President – Automotive Division, Mahindra & Mahindra, said the firm is setting its sights on making the Thar brand the No. 1 SUV (in >12.5 lakh segment) by volume within the next three to five years.

Thar ROXX comes standard with six airbags, three-point seat belts and seat-belt reminder for all seats. The Tyre Pressure Monitoring System (TPMS) and Tyre Direction Monitoring System (TDMS) add an extra layer of safety, M&M said.

Shares of M&M have gained over 66% since the beginning of the year. The stock has gained over 80% in the last one year.