Mahindra and Mahindra: Bolero cheaper, Scorpio more expensive

Indian auto maker Mahindra and Mahindra has launched their new Bolero at a reduced price. However, the company has also increased the price of their popular Scorpio SUV.

Mahindra & Mahindra Auto President Pawan Goenka spoke about this new development: “Our survey with respect to Bolero has revealed that most of our buyers are in the 25-40 years group. The price has been reduced while enhancing its features, keeping them in mind.”

The company has now launched the new Bolero at a reduced price of Rs 4.58 lakhs. A higher end model is also available at Rs 5.74 lakhs.

Mahindra admitted that Bolero continues to remain their most popular model even outselling the more stylish Scorpio.

Goenka added: “In 2006, we sold 42,335 Boleros. Since its launch in 2000, Bolero has been growing at a CAGR of 35 per cent. In the last two years, volumes have gone up 50 per cent.”

The company said that they have invested around Rs 30 crores to revamp the model, which it calls the New Generation Bolero.