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Mahindra To Export XUV 500 To Latin America
Mahindra has recently launched the XUV 500 in Europe and has already begun exports last month. The company's chief executive for the automotive division, Pravin Shah has said the XUV 500's exports will begin during the first half of the next fiscal year.
Mahindra is also looking at African markets where it can sell the XUV 500. It is already selling the premium SUV in South Africa and intends to expand further. African car markets are ideal for Indian brands as the customer requirements are very similar.
The XUV 500 was called as Mahindra's global SUV before its launch. The car with its monocoque construction and modern technology was considered ideal to make it a flagship car for Mahindra in the international market. However, the XUV 500 turned out to be a bigger success that what Mahindra had expected. Local demand for so high that Mahindra's plans to launch the XUV 500 at a wider scale had to be postponed.
All efforts to scale up production to begin the XUV 500's exports did not yield results as the local demand for the SUV was unprecedented. The company has increased production capacity at its plant near Nashik to 5,000 units a month. This will not only help reduce waiting period of Indian customers but will also increase the number of cars available for export.
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