- 16 Aug 2024
- ICICI Securities
Mahindra Launches Thar ROXX: A New Era for the Iconic SUV
News: Mahindra has expanded its popular Thar line up with the introduction of the five-door Thar ROXX. The new model boasts a striking design, advanced technology, and enhanced comfort while retaining the core off-road capabilities of its predecessor. Powered by robust engine options (G20 TGDI mStallion and D22 mHawk) and equipped with features such as a panoramic sunroof, a premium audio system, and advanced driver assistance systems (ADAS-L2), the Thar ROXX aims to cater to a wider audience. With a starting price of ₹ 12.99 lakh (ex-showroom), the Thar ROXX is poised to disrupt the mid-size SUV segment. The company informed that the product has been developed at a cost of ~₹ 1,000 crore.
Views: Thar ROXX represents a significant evolution of iconic Thar brand. Mahindra has successfully managed to retain the rugged charm of the original while introducing modern amenities and a more spacious interior. The expanded feature set, including advanced safety technology and a comfortable cabin, is a clear attempt to broaden the Thar's appeal. M&M is targeting Thar brand to be among the top 3 selling brands in the >₹ 12.5 lakh/unit SUV space in next 3-5 years. Bookings for the Thar ROXX will open online and at Mahindra dealerships from Oct 03, 2024, and Test Drives will start from Sept 14, 2024. Deliveries will commence from Dussehra i.e. 12th Oct 2024. Thar ROXX provides a good value proposition to customers and will help M&M grow ahead of the industry in the medium term. We are positive on the stock.
Impact: Positive