New Delhi: Mahindra XUV700 is one of the most awaited SUVs in the Indian auto market. The Indian carmaker earlier this week opened bookings for its yet-to-be-launched four-wheeler that was unveiled last month.
The car broke many records within a few hours of booking. In the first hour, the car registered 25k bookings, and the car was already sold out in two hours. Mahindra sold 50 thousand XUV700 cars within three hours.
The company is charging Rs 21,000 as booking fee. This means the company has already earned Rs 105 crore in 50,000 bookings which were registered in just three hours.
In all, the company sold the Mahindra XUV700 for Rs 9,500 crore or $1.26 billion. So far no Indian car has achieved this feat in terms of bookings in three hours in the Indian auto industry.
Talking about the delivery update, the company has not yet issued any update related to when the four wheeler will be delivered to all the customers. However, Mahindra will start the deliveries of the XUV 700 from the last week of November 2021.
However, the delivery for individual customers has not been updated. The company is reportedly planning to disclose the date of individual delivery after consulting an outside consulting firm.
Both Mahindra and the third party firm will work out an algorithm-based delivery process for the delivery of the Mahindra XUV700. However, delivery will be on a first come and first served basis. Read also: Big blow to Dream11! Gaming app shuts down operations in Karnataka after FIR
According to a report by Rushlane, the delivery may take more than a year for some customers, depending on demand. Also, the ongoing semiconductor shortage may further impact the delivery time of the upcoming XUV 700. Read also: Upcoming IPO: Radiant Cash Management Services files draft papers for initial offer