Mahindra Thar 5-Door (2024 Armada) Expected Price — #WithLogic (Updated: Jan 30)

Update (Jan 30, 2024): This update of our estimations for the Thar 5-door price is based on the information available as of January 30, 2024. As we get more details closer to the official price reveal, we’ll update this article to reflect the revisions to factor in our learnings.

Mahindra Thar 3-Door 4WD Ex-Showroom Prices

The 3-door Thar 4WD model is available with petrol and a diesel engine options. Both engines are available with the option of a manual as well as an automatic transmission. The Thar petrol 4WD costs between Rs. 14.30 lakh and Rs. 16.60 lakh. The Thar diesel 4WD starts at Rs. 14.85 lakh and tops out at Rs. 17.15 lakh.

The price gap between manual and automatic transmissions of the Thar 4WD is around Rs. 1.50 lakh. The price gap between comparable petrol and diesel powertrains is Rs. 55,000 - 75,000.

Maruti Suzuki Jimny Ex-Showroom Prices

We had earlier taken Jimny’s prices into consideration to estimate Thar 5-door’s pricing. However, after witnessing the poor demand for the overpriced Jimny and therefore the massive discounts of up to Rs. 3.0 lakh in December 2023, we don’t think it’s a rival worth considering anymore. As in, it doesn’t factor into the Thar 5-door’s estimated pricing. Only the Thar 3-door will serve as some form of a baseline.

For reference, though, here are the Jimny prices in January 2024:

Also Read: Maruti Nexa Jimny Discounts Shrink In January 2024

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2024 Thar 5-door New, Additional Features (Expected And Confirmed)

Based on the spy shots of the bigger Thar, we can confidently say that it’ll get the following features:

• Larger 10-inch touchscreen (7-inch touchscreen in 3-door Thar)
• Front centre armrest
• Small sunroof
• Full metal roof
• New grille and front styling
• Full-colour LCD instrument cluster (possibly 7-inch)

However, to improve the ownership experience of a buyer choosing between a C-segment SUV and a Thar 5-door, we expect Mahindra to offer the following additional features:

• Rear armrest
• Rear AC vents
• Power-folding mirrors
• New alloy wheel design

2024 Mahindra Thar (Mahindra Armada) Variant-powertrain — Expected

While we don’t yet know the variant lineup of the upcoming Mahindra Armada (5-door Thar), we expect it to come in 3 variants. For the sake of simplicity, let’s call them Base, Mid and High.

We can expect the 2024 Armada to offer the following variant-powertrain combinations:

Let’s explain each of these one by one:

• Petrol-MT: A petrol-manual powertrain will help Mahindra price the Armada attractively as they can offer it in the base 2WD model. Further, this variant can come in all 3 variants with 2WD. These buyers want a petrol off-road SUV with 2WD primarily for its road presence and not for actual off-roading. Although, given its torque and suspension, it will be fairly capable even with 2WD and a simple tyre swap can further improve its off-road capabilities.
• Petrol-AT: Since petrol-automatic buyers are also mostly city-dwellers, we can expect this powertrain in mid 2WD and high 2WD variants. For the convenience of automatic transmission, these buyers can afford to buy the higher variant and Mahidnra may limit its availability to higher 2 trims. However, to prove that this is part of the real-4WD family, Mahindra may offer it with 4WD in the top model as well. This variant is for those who want a no-compromise off-roader that can also do city duties.
• Diesel-MT: It’s a no brainer that the Thar buyers prefer a diesel engine no matter how much people demonise it. This version will have the torque, a reliable powertrain and better efficiency. Considering that this powertrain will become the mainstay of the Armada 2024 (Thar 5-door), we can expect it to become available with all 3 variants and 2WD as well as 4WD drivetrains.
• Diesel-AT: Just like the petrol-automatic, the Armada diesel-automatic powertrain may skip the base model to encourage buyers to jump to a higher trim.

Why So Many 2WD Variants?

You may be wondering why the 2024 Armada (Thar 5-door) may offer so many 2WD variants when the Thar doesn’t. That’s because the 4-door layout improves its massmarket appeal and thus, more buyers may be interested in the Armada. Meanwhile, the Thar is a niche product and for buyers who will use it as a 2nd or 3rd car. The Armada needs to justify meeting the needs of buyers as a primary vehicle. Thus, we may see a significantly higher demand for 2WD in the 5-door version.

Moreover, this will help them challenge the established C-segment SUVs with real off-road abilities, butch styling and more powerful engines. Mahindra currently have no vehicle to directly compete with high-volume Hyundai Creta, Kia Seltos and Maruti Grand Vitara. While an off-roader is not a direct rival to these monocoque SUVs, the price overlap will certainly make several buyers consider the Armada over a traditional C-SUV.

Mahindra Armada/Thar 5-Door Variant-Wise Expected Price — Summary

Here’s a quick glance at our variant-wise Armada 2024 expected prices:

Mahindra Armada 2024 — Base 2WD Price Logic

Considering that the 2024 Armada is for buyers who intend to use it for daily use, we should expect it to offer at least enough convenience features as the current Thar top model. In the Thar top model petrol-automatic’s price with 2WD (Rs. 14.0 lakh ex-sh), if you add about Rs. 1.0 lakh for the additional 2 door’s manufacturing cost and a little bit for the higher taxes, you get Rs. 15.0 lakh. From this, if you remove the cost of automatic transmission (~Rs. 1.50 lakh in Thar), we arrive at Rs. 13.50 lakh.

We also know that unlike Tata, Mahindra tend to price the lower variants very attractively. Remember that they priced the XUV700 and Scorpio N base model at Rs. 12.0 lakh, which is insane. This creates huge demand and hype for the car and they can manage the revenue and margins by upselling higher variants with faster delivery times. Even the Thar 4WD started its life under Rs. 10.0 lakh and eventually became more expensive. Thus, we shouldn’t be surprised to see a Rs. 12.99 lakh starting price for the Thar 5-door (Mahindra Armada). Just like the Thar, the Armada diesel could carry a premium of Rs. 60,000 over comparable turbo petrol variant.

We should see this trim with petrol-MT 2WD and diesel-MT 2WD so that buyers interested in automatic or 4WD have to buy a higher variant.

Mahindra Armada 2024 — Mid 2WD Price Logic

In the mid variant, we can see the inclusion of automatic transmission. For the additional features, we are assuming that the mid trim will cost about Rs. 1.0 lakh more.

With the mid trim, we can see the Armada offer all 4 powertrain options. This is what Mahindra dealers will try to sell to the buyers walking in to buy the base manual powertrain.

Add another Rs. 1.50 lakh for the automatic and you’ll arrive at the expected prices for the Armada mid petrol-auto and diesel-auto prices mentioned in the table above.

Mahindra Armada 2024 — Top 2WD Price Logic

Assuming another Rs. 1.0 lakh for the top trim, we arrive at Rs. 15.0 lakh to Rs. 17.10 lakh for the 4 engine-transmission combinations.

Mahindra Armada 2024 — Mid 4WD Price Logic

With the Thar, Mahindra charge about Rs. 2.50 lakh for the 4-wheel drivetrain. While it doesn’t really cost anywhere close to that kind of money for the 4WD, maintaining a premium positioning for the 4WD allows them to rake in more cash from buyers who absolutely want 4WD in their cars.

We are expecting only the diesel engines to offer the 4WD option in the mid variant. After all, off-road enthusiasts usually prefer diesel engines. Moreover, this move also helps Mahindra push buyers towards the diesel engine, which further increases their revenue.

Mahindra Armada 2024 — Top 4WD Price Logic

In the top model, we are expecting the Armada to offer 4WD with petrol-automatic, diesel-manual and diesel-automatic powertrains. Buyers who aren’t much conscious of the fuel costs and intent to keep the car for longer may prefer a petrol engine. For such buyers, the option of a petrol-auto 4WD is a suitable fit. Meanwhile, the diesel buyers may get the 2WD as well as 4WD in the top trim.

Here too, we expect the petrol to diesel price gap to remain at Rs. 60,000, manual to automatic gap of Rs. 1.50 lakh and 2WD to 4WD premium of Rs. 2.50 lakh. With these figures, we arrive at a price of up to Rs. 19.60 lakh; that’s still below the Rs. 20.0 lakh psychological barrier.

Mahindra Armada 2024 — Top 4WD With MLD (Diff Lock) Price Logic

The current Thar top model diesel also gets the option of mechanical locking differential. Since this option is top choice for hard-core off-roaders, we expect it to remain exclusive to the diesel engine. That’s how the Thar does it right now. With another Rs. 20,000 premium for the diff-lock, we can expect the prices to go up to Rs. 19.80 lakh.

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