Mahindra and Mahindra is one of the largest automakers in the country, and it has only expanded its business over the recent past. The car marker, known for their SUVs and off-road wagons recently added their legacy of Thar.
Mahindra Launches Thar Roxx
In an event marked by much fanfare, Mahindra revealed the much-awaited Thar Roxx on August 14, on the eve of Indian Independence day.
The markets, according to observers, factored this in, as the company shares rose by over 2 per cent in the intraday trading session on Friday, August 16.
The Thar Roxx is a tough-terrain SUV that has been in the making for a while. This is a 5-door SUV that will take on the likes of the Maruti Jimny and Force Ghurkha.
In a statement released through an exchange filing, the company's Automotive Division President, Veejay Nakra said, “The Thar brand has always been a cultural phenomenon, symbolizing freedom and a strong sense of community."
Thar's rival Force Gurkha and Maruti Jimny. |
Mahindra Shares Jump By 2%
In addition, he also added, "Building on this legacy, the Thar ROXX is ‘THE’ SUV, seamlessly combining head-turning design, a refined drive, powerful performance, superior off-roading capability, ultimate safety, luxurious space, and advanced technology. With Thar ROXX, we're not just elevating the SUV experience—we're setting our sights on making the Thar brand the No. 1 SUV (>12.5 Lakh segment) by volume within the next 3 to 5 years.”
According to the exchange filing, bookings for the Thar ROXX will open online and at Mahindra dealerships from October 3. In addition, the test drives will start on September 14.
The company's shares have steadily risen since the beginning of the day's trade proceedings. At 12:34 IST, Mahindra and Mahindra shares rose by 2.76 per cent or Rs 75.80, climbing to Rs 2,821.05 per share. I
In fact, in the past six months, the company shares have risen by 53.69 per cent or a mammoth Rs 985.50 per share.
