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New Mahindra Thar Auction

Sep 30, 2020 22:23 IST

The first Mahindra Thar has been auctioned at a winning bid of Rs. 1.11 crore. Delhi-based Aakash Minda won the bid for the first Thar to roll out for mass production. The auction process saw over 5400 registered individuals and the bidding started from a reserve price of Rs. 25 lakh with the bid multiplying by Rs. 25,000 each time. The very first day of the bid saw the reserve price increase up to Rs. 80 lakh for the Thar Number 1, and further increased to Rs.92.5 lakh over the next five days. On the final day, the bidding amount crossed Rs. 1 crore with three hours left for the bidding window to shut at 6 pm, with Minda eventually bagging the first Thar to be produced. Mahindra & Mahindra will match the bidding amount and the total sum will be donated to several foundations engaged in COVID-19 relief work. Prices for the new Mahindra Thar will be announced on October 2, 2020.