Mahindra XUV500 Price Hike in January
Mahindra & Mahindra has announced to increase the prices by Rs 30,000 to Rs 55,000 from January 1 at the showrooms in New Delhi.
“The price rise has been necessitated as the launch price was an invitation price and there has also been a considerable impact of increase in raw material costs and the rupee depreciation with respect to the dollar and the euro,” according to the statement issued by the company.
The company has launched the Mahindra XUV500 in September this year and presently priced at Rs 10.8 to 11.95 lakh (ex-showroom, Delhi).
The booking for this SUV was started on October 1 and within 10 days of its launch, the company has received 8,000 bookings for the vehicle and forced the company to suspend the fresh sales as it was working on monthly output of 2,000 units at its west India plant.
From January 2012, the company is planning to reopen the bookings for the XUV500 after aumenting the production output of the vehicle to 3,000 per month. Further, the company is also looking to raise production of the vehicle to 5,000 a month in June.
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