M&M to launch SUV XUV5OO in India and South Africa by year end
Mahindra & Mahindra, the Indian based largest utility vehicle manufacturer leaves no space to publicise its upcoming SUV XUV 500, pronounced as XUV five double oh. For the first time the company has decided to launch the SUV in South Africa also. XUV 500 ranged between Rs. 12-16 lakh would be launched after two months in South Africa on the same date as India. Mahindra XUV 500 specifications include 2.2 litre diesel engine, plastic fuel tank, electronic stability program, a transverse drive train, 6 airbags and a plastic fender. It is a mainline product for the company.
Mahindra Mahindra, the Indian based largest utility vehicle manufacturer leaves no space to publicise its upcoming SUV XUV 500, pronounced as XUV five double oh. For the first time the company has decided to launch the SUV in South Africa also. XUV 500 ranged between Rs. 12-16 lakh would be launched after two months in South Africa on the same date as India. Mahindra XUV 500 specifications include 2.2 litre diesel engine, plastic fuel tank, electronic stability program, a transverse drive train, 6 airbags and a plastic fender. It is a mainline product for the company.
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Dr Pawan Goenka, President, of Mahindra Mahindra informed that they studied the South African and Western European markets. Since the product requirements and emission norms in South Africa are like India and there is a demand for products at every price point like the Indian market, Mahindra XUV500 is being launched there too. Adding to the fact file, he mentioned that SUV sales in South Africa (SA) constitutes about 10% of overall market share and growth of SUV market is reporting a 12-15% every year. MM is already known for its pick up and SUVs in SA and currently sells about 4,500 units every year with a market share of 3% in SUV and 2% in pick-ups. The company can expect an easy launch there but the pricing, distribution and brand image will be some challenges for MM in European market.
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Right now, exporting out the vehicles out of India which are completely tailored in India, is the immediate plan of MM. The company will also use South Korean company SsangYong's (which it acquired last year) global network for its own range of vehicles. The converse will also apply to the Korean automaker's vehicles which will be retailed through the Mahindra network. The duo will soon kick off joint retailing of their vehicles (including the XUV 500) in MM showrooms in South Africa. The company eventually plans to set up an assembly line in South Africa. MM has high hopes from XUV 500 and the team is looking forward to the response of the customers globally. The SUV will take on Hyundai Tucson, Nissan Qashaqai and GM's Captiva in South Africa and western Europe
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