Last week, Mahindra unveiled the much-anticipated Thar ROXX, priced competitively at INR 12.99 lakh. This latest offering is built on its M_GLYDE platform, designed to deliver an improved driving experience characterised by smooth rides, precise handling, and dynamic performance.
With a wealth of cutting-edge features, the Thar ROXX is set to redefine the SUV segment. When questioned about the profitability timeline, Rajesh Jejurikar, Executive Director and CEO of Auto & Farm Sectors at Mahindra & Mahindra, told Mobility Outlook that when the company launched the XUV300 last April, many questioned whether the pricing would allow the company to turn a profit. However, as the first-quarter margins later revealed, Mahindra not only met expectations but exceeded them, achieving some of the best margins in the industry despite the significant volume of XUV300 in the mix.
According to Jejurikar this success is a testament to the design and cost management team, who carefully balance customer value with cost-efficiency, ensuring the right features are included at the right price.
“As we transition to the Thar ROXX, the challenge wasn't just about making money—it was about creating a product that would stand out in a competitive market,” he said.
The Thar ROXX is a different compared to the 3-door Thar, not just in size but in its appeal. The ROXX targets a more extroverted, outgoing customer, one who desires a vehicle that stands out on the road yet offers ample space inside without appearing overly bulky. “ROXX represents the solidity of a rock and vibrancy of a rock star,” he said, adding that this balance of compactness and spaciousness was a key technical challenge that Mahindra successfully navigated.
“Unlike the Scorpio, the ROXX doesn't just look like a beast on the road; it feels right-sized, offering a lot of interior space while retaining the DNA of the compact 3-door Thar that made it so appealing. The design and development process took time, as the team, including Pratap Bose (Chief Design & Creative Officer, Mahindra and Mahindra) focused on maintaining this delicate balance. The decision-making process was thorough, ensuring that the ROXX met the high standards set by its predecessor while offering something new and exciting to the market,” he said.
On the production side, Mahindra has set up a capacity of 9,500 units per month for the Thar and ROXX combined, with flexibility built in to adjust based on market demand. While the launch lineup is intentionally kept simple to avoid complexity, the option for a diesel variant remains, catering to the typical 4x4 customer who prefers the torque of a diesel engine.
When it comes to market share, Mahindra views the SUV segment in two ways—by volume and by revenue. Currently, Mahindra holds a 19.1% volume market share and a 20% revenue market share, making it the number two player by volume and number one by revenue. The Thar ROXX is expected to further augment this position by appealing to a broad range of customers and potentially creating its own subsegment within the market.
Understanding Market Dynamics
Jejurikar indicated that Mahindra's approach to the Thar ROXX reflects a deep understanding of market dynamics. Products, not models or definitions, shape the market. Just as the 3-door Thar carved out its niche and started selling 6,000 units a month from nothing, the ROXX is poised to do the same, attracting a diverse customer base and expanding its segment. “We see more versions coming out of Thar portfolio,” he noted.
As Mahindra continues to innovate and introduce new products, the SUV market will grow, driven by consumer demand for vehicles that offer both style and substance, he added.
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With Thar ROXX, We Aimed To Redefine Driving Experience: Mahindra’s Velusamy