Mahindra to raise XUV 5OO price from January 1st

Mahindra & Mahindra Ltd. (M&M), a part of the US $14.4 billion Mahindra Group, today announced that it would be raising the price of the Mahindra XUV 5OO from 1st January 2012 . This price rise has been necessitated as the launch price was an introductory invitation price and there has also been a considerable impact of increase in raw material costs and the rupee depreciation with respect to dollar & euro.

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The quantum of approximate ex-showroom price increase for the respective models of the XUV 5OO is as follows:

* W6 variant – By Rs 30,000/- for ex-showroom Delhi

* W8-FWD variant – By Rs 50,000/- for ex-showroom Delhi

*W8-AWD variant – By Rs 55,000/- for ex-showroom Delhi

However, as a special case, for all the current bookings, for which delivery has not been made and inspite of the terms of price applicable at the time of delivery, the increase would only be 50% of the actual price increase proposed as above. The production for the XUV 5OO is as per schedule and the company is also in the process of further ramping up production at its plant in Chakan which will enable it to re-open bookings in January 2012.

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The XUV has received a tremendous response from customers and reviewers alike. It has been announced as the ‘Car of the Year’ and ‘SUV of the year’ by ET – Zigwheels. It has received laurels like the ‘SUV of the Year’ and ‘Readers Choice Award’ from Top Gear Magazine Awards 2011. CNBC TV18–Overdrive Awards 2012 have bestowed upon it honor of the ‘SUV of the Year’ and ‘Viewers Choice Car of the Year Award’. NDTV Car & Bike Awards 2012 added another feather in its cap by awarding it the ‘SUV of the Year’ too.

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