M&M to ramp up the production of new SUV, XUV 500
HYDERABAD: Mahindra & Mahindra (M&M) is planning to ramp up the production of Mahindra XUV 500 from its current 2,500 units to 3,000 units a month. The ramp-up will help the production and supply to meet the demand.
The XUV500 is Mahindra’s first global SUV platform, has already launched in South Africa. The company has plans to export to other parts of the world once the volumes are enhanced, said Arun Malhotra, senior vice-president (sales) of the company. He said the XUV 500 was designed by Indian engineers taking local conditions into consideration with inputs from customers across the globe. It was manufactured with 80 per cent indigenous content and complied with crash test and emission norms of global standards.
The company launched XUV 500 in New Delhi, Mumbai, Chennai and Bangalore. It deliberately stopped bookings after it reached 8,500 units. These bookings of the first phase would be cleared by February-end. The second phase of booking would start in 19 main cities including Hyderabad from January 25, 2012 to February 3, 2012. It earmarked 7,200 units for this phase and would deliver the units within three months, Malhotra disclosed.
Talking about the growth of the company, he said the overall growth of the company was 26 per cent and the SUV segment grew by 17 per cent in the last three quarters. It helds 60 per cent share in the SUV market. The company unveiled the new diesel engine SUV, Mahindra XUV500 in the City. It is priced from Rs 11.2 lakhs to Rs. 12.5 lakhs ex-showroom, Hyderabad. It is available in seven colours and gives mileage of 15.1 km per litre.
Category: Business, Business News, Headlines
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