A recent press conference by the Mahindra and Mahindra’s automotive division vice president Mr. Ashish Mallik (during the launch of XUV500, a refreshed version of SUV in Hyderabad) confirms that the Indian car maker plans to revive its market condition after being on back foot for several months due to the downfall in sales. In the current financial year, the company plans to bring a total of nine new commercial vehicles as well as passenger car models to gear up its sales and thereby aims to revive its market status.
Mr. Mallik also confirms that among the nine new variants of the Indian car maker, three passenger cars will be brand new models which will be launched in the coming months. However, the market’s growing inclination for sports utility vehicles (SUV) and Mahindra’s absence in this sector have hurt its sales in the last few months. Now the automobile company tries to fill that lacunae through a new compact SUV, however, details are yet to be confirmed by the homegrown automaker. With this, the company expects a hike in sales volumes during this financial year as stated by Mr. Mallik, the company vice-president.
In the last few years, Mahindra and Mahindra have been leading the market in the utility vehicle space owing to a good demand for Mahindra Scorpio and Bolero. However, the increased competitions from the foreign car makers like Ford and Renault has pulled its market share down to 37 percent only within a few months.
Mahindra SUV (launched in September, 2011 and was the 1st SUV developed with a monocoque body and built by Indian automaker) had brought a revolution in Indian automobile market with a sale of 1 lakh units in just three years of span. However, with the entry of foreign car makers the model was not able to compete with their compact SUVs and the sales fall to around 3 thousand units a month. However, the new variant XUV500 is expected to hike the sale to a greater extent. Despite a cosmetic updation and a better-equipped cabin, yet the model has no mechanical change from its old model. New chrome grille, chrome bezels added with LED strips, projector based headlamps and alloy wheels give the exterior a more luxurious appearance. Similarly, aluminum pedals, multifunction steering wheels, illuminated scuff plates and ambient lighting are the features added to the interior portion of the new XUV500.
However, no upgradation has been imparted in the engine or gear box which confirms that it will continue the journey with its past engine model. This variant will come in six variants and seven paint schemes and the price range is kept Rs 11.12 lakh to Rs 15.85 lakh which is affordable in the current market status. Being equipped with stylish exterior and luxurious interior, the model is expected to win youngster’s driving interest thanks to its cutting-edge features and thereby it will strengthen the company’s sale.