Mahindra & Mahindra Ltd.

Mahindra & Mahindra Ltd has decided to postpone the launch of the XUV500 sports utility vehicle in foreign markets, since the demand for the product was overwhelming in the domestic market. The company also decided to ramp up the production capacity of the vehicle at its Chakan plant, to bring down the waiting period for the product, which currently stands at 17 weeks. The company secured a record booking of 5,000 in just seven days of the launch of XUV500. The company will have to delay the launch in other markets, both in the country and overseas, by not more than three months.