Monday, September 05, 2011
By Pranjal Gera
Mahindra XUV 500 ready to launch
Mahindra & Mahindra is taking a step ahead and launching its new SUV XUV 500 in South Africa and Western Europe. It is all set to be launched in India, as well as South Africa, on the same day. The expected price of XUV 500 will be between Rs.12-16 Lacs.
Dr Pawan Goenka, President, Mahindra & Mahindra quoted that they did some research western Europe and South Africa, because they wanted to target them. He believes that they have good market there for XUV 5OO. He also said that they plan to sell few thousands Mahindra XUV 500 in a month like other products. They think have got a very good product, and that Pricing will be key. According to them, they have got a strategy in place to offer the right mix to the customers, so that it is accepted well.
The Mahindra XUV 500 will feature a 2.2L engine, with transverse drive train. The Mahindra XUV 500 is expected to do well in South Africa, as Mahindra & Mahindra is already quite established there, and is currently selling 4,500 units per year in the Market.
VG Ramakrishnan, senior director, transportation, Frost & Sullivan said that South Africa is already aware of M&M as it's already selling its pick-ups and SUVs there. He said that the launch of Mahindra XUV 500 will help Mahindra & Mahindra in improving market share. However, pricing, distribution are a concern to him. As per him, these will be the biggest challenges for M&M in the foreign market.