Mahindra XUV 500 Sells 100,000 Units

By Rajkamal

Published: Thursday, July 31, 2014, 16:08 [IST]

The XUV 500, Mahindra's flagship model has sold 100,000 units in the Indian market. The company achieved this figure on Tuesday, 33 months after its launch.

Mahindra's Chief Executive Officer, Pravin Shah said this was something to cherish as the vehicle had the fastest growth for an SUV in the INR 10-20 lakh segment.

Mahindra had launched three models of their flagship SUV starting at a price of INR 10,80,000 which had sold 50,000 units as of January 2013. A fourth variant of the XUV 500 was introduced recently.

M&M had sold more than 3,000 units of the XUV 500 during the quarter-ended June 30. According to industry data, M&M had a 51 per cent market share in the domestic high-end SUV segment and 40 per cent of the SUV segment during the quarter.

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Since the launch, the XUV 500 has won 25 different awards that include ‘SUV of the Year', ‘Readers Choice Award' and ‘Best Value for Money Car'.

The success factor of the XUV also brought higher priced vehicles such as the Rexton to the Indian market. Mahindra have claimed that their other vehicles in their line up are also doing well.

The Indian automobile giant have also announced that they will be launching an automatic and a hybrid version of the XUV 500 soon.

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