Mahindra & Mahindra (M&M) has launched the refreshed, second generation of Bolero with price cuts ranging from Rs 16,000 for the base DI version to Rs 37,000 for the top-of-the-line SLX variant. The DI is now priced Rs 4.58 lakhs and the SLX comes in at Rs 5.58 lakhs, and all variants go on sale from March 10. The Bolero was originally launched in 2000 and has seen several iterations since then. The range has seen a compounded annual growth rate (CAGR) of 25-30 percent over the years but in the last two years it has been nearly 50 percent growth.

M&M sold 42,335 units of the Bolero in 2006, and given the growth rates in the previous years, it is reasonable to assume that the company expects to sell nearly 60,000 units this year. It is the biggest selling SUV in India, and even outsells its high-profile stablemate Scorpio.

M&M has invested Rs 30 crore into refreshing the Bolero. Most of this has gone into capital expenses including dies and fixtures. In addition to this, it has also invested in expanding capacity at Nashik from 100,000 to 150,000 units.

SANDEEP BELAGAJEE