M&M looking at luxury SUV segment with new launches lined up ...

Mahindra

The Indian utility major Mahindra & Mahindra (M&M) which is the largest UV seller in India is now looking at the premium SUV category in which it does not have a presence. Already global majors are inundating the luxury SUV segment with new launches and just couple of days ago, French auto maker Renault which is also a former partner of M&M launched the SUV Koleos. Now it has been reported that as part of foraying into the premium SUV segment, M&M would launch the already announced global vehicle "XUV-500" and the Rexton and Korando from its Korean subsidiary Ssangyong Motor Corporation.

The reports quoted Mahindra and Mahindra Senior Vice-President Marketing (automotive division) Vivek Nayer as saying "We do not have a SUV in the price range between Rs 11 lakh to Rs 20 lakh.. Currently we have the Scorpio priced from Rs eight lakh to Rs 11 lakh. Our new XUV500 targeted at the young audience will be launched by this year. This SUV will be priced between Rs 11 lakh and Rs 20 lakh range.?? Declining to elaborate he said, "it will be launched simultaneously in India and South Africa. At the time of launch it will be offered in two wheel and four wheel drive options.??

It was mentioned that M&M would also bring in two premium SUVs -- the "Rexton" and "Korando" from Korean auto maker Ssangyong Motor Corporation next year. "The Rexton and Korando SUVs will be introduced (in India) by middle of next year," he said. It was reported that he said the Korando was launched globally about two months back and was received well in the market. He was also quoted as saying that the "XUV-500" would be placed between Rs 11 lakh and Rs 20 lakh while the two SUVs from Ssangyong products in the above Rs 20 lakh pricetag.

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Source: http://www.wheelsunplugged.com/ViewNews.aspx?newsid=11192

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