Mahindra & Mahindra Ltd.

In a bid to increase sales in a sluggish market, Mahindra & Mahindra (M&M) is planning to launch lower variant of its sports utility vehicle XUV 500 by the end of this fiscal. Mahindra had launched the XUV 500 in 2011. The company, at present, markets three variants of the model in the domestic market at a price range of Rs 12.13 lakh to Rs 14.77 lakh (ex-showroom Delhi).

Last month, the company had sold 2,200 units of the XUV500. The country’s leading SUV manufacturer had reported its auto sales numbers for May 2013 which stood at 43,460 units, a fall of 1.20% as against 43,989 units during May 2012.