Faced with increasing demand, auto major Mahindra and Mahindra proposes to ramp up production of its latest Sports Utility Vehicle XUV-500 by next month, a senior official said on thursday.
“We will be ramping up of production to 3,000 units per month,” Mahinda and Mahindra Automotive division Senior Vice-President (Marketing) Vivek Nayer told reporters here.
The company’s proposal to increase production at its Nasik facility came in the backdrop of overwhelming bookings of more than 25,000 units in the second phase. During the first phase, over 8,000 units were booked.
Besides, increasing production of XUV500 is also to shorten the waiting period of three to five months.
On the upgraded version of Xylo launched on Wednesday, Nayer said the new variant is higher by upto Rs 15,000 and the company has developed it at a project cost of Rs 50 crore.
The top end model comes with Mahindra’s successful mHawk engine and the vehicle is available in five variants, he said.
“We have given a complete makeover for Xylo. There is lot of changes in interior, exterior and even in technology,” he said.
Across India Mahindra holds 27 per cent of market share in the multi-purpose vehicle segment. The base model of the new Xylo costs Rs 7.37 lakh (ex-showroom Chennai) whiles the top end at Rs 10.28 lakh (ex-showroom Chennai).