M&M drives in 'new-age' XUV500 with price starting at Rs 11.21 lakh

NEW DELHI: Mahindra & Mahindra today unveiled an updated version of its sports utility vehicle XUV500, with the price starting at Rs 11.21 lakh (ex-showroom Delhi).

While the entry level variant W4 is priced at Rs 11.21 lakh, the highest trim W10 comes with a tag of Rs 15.99 lakh.

"Today, as we launch the new-age XUV500, we have enhanced the finesse and driving experience while retaining the DNA of the cheetah-inspired XUV500," Mahindra & Mahindra Executive Director Pawan Goenka told reporters here.

The updated version sports added features, including electric sunroof, push button start and 6-way adjustable seats.

The Mumbai-based firm had first launched the XUV in September 2011.

"We plan to launch nine products, including two new compact SUVs, refreshes and variants in the current fiscal," Goenka said.

He added that the launch of the new XUV would help the company further strengthen its market share in the segment, where it currently commands some 40 per cent market share.


Asked about the expected growth for the company during the fiscal, Goenka said: "We expect to grow more than the industry which according to SIAM is expected to grow in high single digit during the fiscal." Expressing confidence of turnaround in the auto sector after witnessing a slump in the last few fiscals, he said: "The first month of the fiscal April has begun well...We in Mahindra are confident that we should be contributing more than our share in the growth."

On expectations from the Modi government, Goenka said, it would be good to have a long-term policy for auto sector, as in South Korea, where the auto companies don't have to worry around every budget about what might happen.

He also said there was a need to improve the whole supply chain ecosystem, besides improving the skill of not only in terms of basic ability but also to accomplish good quality work.