Mahindra & Mahindra Ltd on Thursday said it has clocked almost one lakh bookings of its latest sports utility vehicle XUV700 besides billing the first 14,000 units of the vehicle by January, despite global supply chain issues.

The company in a statement also said that while the dynamic supply chain issues continue to be a challenge in streamlining and ramping up production, it is doing its best and focusing on meeting its committed delivery timelines to customers.

Given the unprecedented bookings and the continued strong demand for the vehicle, the waiting period for most variants stands at 6-10 months. However, the AX7 series has a waiting period of well over 12 months, it stated.

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The homegrown auto major had launched XUV700 in August last and opened bookings from early October. The deliveries of the XUV700, however, commenced only from October 30.

Priced between Rs 12.95 lakh and Rs 23.79 lakh (ex-showroom), the five- and seven-seater XUV700 comes in two broad trims MX and AX (AdrenoX). AX (AdrenoX) is further divided into three sub-trims AX3, AX5, and AX7.

"Mahindra & Mahindra Ltd has met its commitment of billing the first 14,000 XUV700s by January 2022. The SUV has clocked almost 1,00,000 bookings since its commencement on October 7," the company said. Upon completion, it will be the fastest for an SUV to reach the one-lakh booking milestone in India, M&M Ltd said.

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Mahindra has delivered on its commitment of billing 14,000 SUV700 in less than 90 days, the company said in a statement. It added that the XUV700 has also been able to attract newer segments with many first-time buyers for the brand.

It has further strengthened the Mahindra automatic and petrol offerings with around 60 percent and around 35 percent of the bookings coming in for these variants respectively, it stated.

(Edited by : Jomy Jos Pullokaran)