New Delhi, Oct. 20 (PTI): Mahindra and Mahindra (M&M) is set to launch a new version of its multi-utility-vehicle Bolero that will cost less than Rs 5 lakh in an aggressive strategy to drive sales and boost market share in the growing domestic utility vehicle market.
The new vehicle, christened Bolero Sportz, will have power steering and air-conditioning, but without other features like power windows, central door locking and music system, Pawan Goenka, M&Mís executive vice president (product development) said.
The company will also roll out a 2600cc petrol engine model of its latest sports-utility-vehicle Scorpio on October 24, Goenka added. He said the new vehicle would be priced at about Rs 7.10 lakh, about Rs 50,000 more than the existing top-end diesel engine variant of the Scorpio.
Besides, M&M has already conducted a soft launch of a four-wheel drive version of the Scorpio and an official launch in the domestic market is likely by the end of this fiscal, he said, adding the four-wheel version would be introduced in Nepal this month-end.
The new model is likely to be priced at about Rs 1 lakh more than the existing variants.