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M&M to hike XUV500 price from January 1, 2012

29 Dec 2011 Evaluate

Mahindra & Mahindra (M&M), a part of the $14.4 billion Mahindra Group is planning to raise price of the XUV500 to Rs 55,000 with effect from January 1, 2012.

This price rise has been necessitated as the launch price was an 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 & euro.

The production for the XUV500 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.  The XUV has received a tremendous response from customers and reviewers alike. It has been announced as the ‘Car of the Year’ and ‘SUV of the year’ by ET - Zigwheels. It has received laurels like the ‘SUV of the Year’ and ‘Readers Choice Award’ from Top Gear Magazine Awards 2011.

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