Mahindra & Mahindra Ltd.

Auto major, Mahindra & Mahindra (M&M) is all set to introduce a smaller version of its multi-purpose vehicle Xylo by Diwali this year as it aims to expand its customer base in the country. The company, which has introduced an advanced version of the Xylo at Rs 7.37 lakh-Rs 10.25 lakh (ex-showroom, Delhi) is hoping to create a new segment for the proposed low-priced MPV.

The price of the top-end variant of the compact Xylo may overlap with the base-price of the existing version. The company has been reported to start the trial production of the vehicle, which is estimated to carry a starting price tag of around Rs 5 lakh.

The company is witnessing sales of around 2,500 units of the Xylo a month. In 2010-11, it had sold a total of 30,000 units of the MPV. Launched in 2009, the company has sold 90,000 units so far in the Indian market.