On the occasion the company also launched the new models of Scorpio. M&M may slash prices of Bolero, but would hike prices of its multi-purpose vehicle Xylo which was launched in January, said Company's president (automotive sector) Pawan Goenka. The hike ranges between Rs 10,000 and Rs 12,000 per unit.
The company pumped in Rs 50 crore for the new Scorpio to come out with the revised variants of Scorpio, which features an advanced engine.
The earlier models of Scorpio have been phased out. Now, the price of new Scorpio VLX will be lower by Rs 70, 000 at Rs 9.2 lakh and the low-end LX model will cost Rs 25,000 less at Rs 7.2 lakh.
M&M will launch the new Scorpio in the United States by the year end. M&M launched utility vehicle Scorpio in 2002 and so far has sold 160,000 units in India and around 20,000 abroad.