Monday, October 10, 2011
By Pranjal Gera
Mahindra indicates holdup of XUV 500 export in order to accomplish booming demand in India
Following the approach of Family First, the homegrown automobile manufacturer; Mahindra and Mahindra has recommended postponing of its overseas selling in order to initially fulfill the requirement in the domestic market for their recently unwrapped Global Sports Utility Vehicle (SUV); XUV 500 vehicle, as informed by the company representative.
Even at the price tag of INR 10.8 Lakhs to INR 11.95 Lakhs (Ex Showroom New Delhi) the demand created by the vehicle is quite decent, around 5,000 vehicles are booked with in the first week of its launch in five major cities of India. The consumer need to wait for about 4–5 months now as the roll-out capacity of the manufacturing plant is of 2,000 vehicles per month, as addressed by the President for Automotive and Farm equipments sector, Mr. Pawan Goenka.
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The Global SUV XUV 500 has received a tremendous acclaim nationwide for its price tag that is value-for-money and for the uncommon features that comes packed with this SUV. The off-roader competes with premium brand SUV’S in India such as Chevrolet Captiva, Toyota Fortuner and Honda CR-V.
Currently the auto major is eyeing to make a big leap in the auto segment worldwide with its new corporate philosophy of ‘RISE’. Hence is planning to launch some of the car models of Ssang Yong Motors; the South Korean company now acquired by Mahindra and Mahindra Group.
Mr. Goenka stated that the company is looking at the auto market is Chile, Australia and other neighboring countries. As per the schedule Mahindra was supposed to export the XUV500, but sighting the flourishing demand in India, the programmed export was postponed.