Motilal Oswal’s research team took the new Mahindra XUV7XO and XEV9S for a spin and laid out what the upgrades mean for the company’s sales.
New XUV7XO and XEV9S Highlights
- Best‑in‑class suspension and semi‑active setup for smoother rides.
- Three‑screen cockpit with Dolby Vision, Dolby Atmos and a 16‑speaker Harman Kardon audio system.
- Ambient lighting and upgraded ADAS electronics.
- AR heads‑up display on the XEV9S.
The XUV7XO could add about 2,000‑3,000 extra units each month to the current XUV700 run‑rate.
Upcoming Launches
- Two more internal‑combustion‑engine (ICE) variants slated for FY27.
- An electric vehicle (EV) also planned for the same fiscal year.
These launches are expected to keep demand strong.
Growth Outlook
Motilal Oswal projects Mahindra & Mahindra’s utility‑vehicle volume to grow at a 14% compound annual growth rate (CAGR) from FY25 to FY28. The firm also forecasts revenue, EBITDA and profit after tax to rise at roughly 19%, 18% and 21% CAGR over the same period.
Analyst Rating
The brokerage reiterates a “BUY” rating on Mahindra & Mahindra, with a target price of ₹4,521 per share, based on a December 2027 share‑price outlook.
Remember, this is the analyst’s view, not a guarantee. Do your own research before making any investment decisions.