XUV500 to be dearer by Rs 55,000

Mahindra to hike prices of its XUV500 by Rs 30,000-55,000 from January 2012.

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Three months after its launch, the Mahindra XUV 500 will see its first price revision from January 1, 2012. The quantum of hike will be Rs 30,000 for the base W6 variant, Rs 50,000 for the W8 2WD variant and Rs 55,000 for the W8 4WD variant.

Currently, the XUV 500 W6 is priced at Rs 10.8 lakh, W8 2WD retails at Rs 11.95 and the top-end 4WD W8 variant is available for Rs 14.16 lakh, ex-showroom, Delhi. For all the current bookings, for which deliveries have not been made, the increase would only be 50 percent of the announced price hike.

M&M says the prices have to be increased as they were ‘introductory invitation price’ and there has also been a considerable impact of increase in raw material costs and the rupee depreciation with respect to dollar and euro.

The production for the XUV5OO is as per schedule and the company is also in the process of further ramping up production at its plant in Chakan which will enable it to re-open bookings in January 2012.

M&M received 8,000 bookings for the XUV 500 within a fortnight of its launch. The company started the SUV’s production at a level of 2,000 units per month and is ramping up production to reach 4,500 units per month by June, 2012.

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