M&M eyes premium SUV segment with XUV 500 launch

The upcoming SUV, Mahindra XUV 500 will be the first car from Mahindra & Mahindra banner to fall in the premium SUV segment. Company officials intimated that Mahindra XUV 500 price will range between Rs 11 lakh to Rs 20 lakh.

See More Mahindra XUV 500 Pictures                                                                               Read More on Mahindra XUV 500

 
As of now, Mahindra & Mahindra is rolling out SUVs priced less than Rs 11 lakh. The company’s highest priced SUV is Scorpio which is available between Rs 8 lakh to 11 lakh. Another MPV Mahindra Xylo falls almost in the same price ambit. M&M recently launched the refreshed verison of Mahindra Bolero, the new Mahindra Bolero price ranges between Rs 6.24 lakh (for BS III variant) ex-showroom Chennai and upto Rs 7.03 lakh (for BS IV variant) ex-showroom Chennai. Mahindra Bolero price for the new variant is Rs 6,000 higher than the existing Bolero and has many add-on features. Vivek Nayer Senior Vice-President of Marketing (automotive division) at Mahindra and Mahindra said the company has spent Rs 50 crore on the new Bolero project.

See More New Mahindra Bolero Pictures                                                                                Read More on New Mahindra Bolero

 
Coming back to Mahindra XUV 500, it will be launched simultaneously in India and South Africa offered in two wheel and four wheel drive options. On the tie up with Korean firm Ssangyong Motor Corporation (SMC), Nayer said M&M now holds 70% stake in SMC after acquiring it for about Rs 2,105 crore. Besides XUV 500, M&M would also bring in two premium SUVs -- the "Rexton" and "Korando" manufactured by SMC. Although Korando was launched globally about two months back, both the cars-Rexton and Korando SUVs will be introduced in India by middle of next year. Nayer added to the knowledge that Korando recieved an overwhelming response in global market and the two SUVs from Ssangyong would be priced above Rs 20 lakh in the Indian car market. With the recent launch of Koleos SUV at approx Rs 23 lakh by Renault which was previously in a venture with Mahindra and Mahindra, the company is trying to cash in bonus points by launching XUV 500 which will definitely give a tough competition to Renault Koleos and other SUVs present in India.