Mahindra XUV 500 Crosses One Lakh Sales Mark
Home grown auto major Mahindra & Mahindra has sold over 1,00,000 units of its XUV500, since its launch in 2011. The 1,00,000th unit of the SUV was sold on Tuesday, about 33 months after the sales commenced. While the 50,000 units milestone was achieved in January last year.
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“This is a milestone to cherish as it is the fastest growth for an SUV in the INR 10-20 lakh segment. The XUV 5oo has really turned out to be a product that meets the expectations and aspirations across customer segments,” Pravin Shah, M&M’s Chief Executive Officer (Automotive Division and International Operations), told the newspaper.
The manufacturer had sold more than 3,000 units of XUV 5oo during the quarter-ended June 30. According to industry data, it had a 51 per cent market share in domestic high-end SUV segment and 40 percent of the SUV segment during the quarter. To boost-up the sales, the company introduced an entry-level W4 variant priced at INR 10.95 lakhs (ex-Showroom, New Delhi) last year.
All the variants of XUV 500, come equipped with a 2.2-litre four-pot diesel engine, capable of 140 bhp and 330 Nm of peak torque. The unit comes mated to a six-speed manual gearbox, sending power to the front wheels, or to all wheels in case of the AWD model. Furthermore, the manufacturer is also readying the hybrid and automatic transmission variants of the SUV.
Elaborating the success of Mahindra XUV 5oo, Mr. Shah added, “The SUV has won about 25 awards, since its commercial launch, including ‘SUV of the Year,’ ‘Readers Choice Award’ and ‘Best Value for Money Car’ from Top Gear Magazine Awards 2011 and ‘SUV of the Year’ award from Car India Awards 2012.
Source : The Hindu Business Line
