The utility vehicle giant Mahindra & Mahindra has announced to launch its much awaited global sports utility vehicle (SUV) – Mahindra XUV500 in the Indian auto market by the end of this year. The XUV500 will be simultaneously launched in the South African market. This will be the first ever global SUV in Mahindra portfolio and has been developed after taking inputs from SUV buyers across the globe.
The new XUV500 is expected to be positioned in the segment of luxury compact SUVs in Rs 20 to 25 lakh. It will be taking on with a large number of popular vehicles of this segment including Toyota Fortuner, Nissan X-Trail, Honda CR-V, Ford Endeavour, Chevrolet Captiva and Mitsubishi Outlander.
Speaking to reporters in Mumbai, M&M President for Automotive and Farm Equipment Business Pawan Goenka, said, "We plan to sell the XUV 500 in India and South Africa before its introduction in other global markets. I am confident that the XUV 500 will follow the footsteps of its illustrious predecessors to evolve into an iconic brand."
The all new Mahindra XUV500 will be manufactured at company's Chakan plant near Pune. Besides South Africa, the SUV will be sold in a number of foreign markets including Europe, Africa, Australia and Latin America.
However, the company is yet to reveal the pricing and specification details of this prospective SUV in the country.
