Mahindra & Mahindra Closes Booking Of XUV500 (08-Feb-2012)
Mahindra & Mahindra, auto major has stopped the second phase of booking for its latest sports utility vehicle XUV500. It has received over 25,000 orders in a period of 10 days from January 25 to February 3, 2012. The company planned to conduct a draw of the orders to deliver the vehicle to 7,200 customers.
The company is looking for increasing production of the XUV500 to about 3,000 units per month in the next 2-3 months compared to about 2,500 units in December 2011 because of strong demand. Earlier in the last year, it had suspended bookings of XUV500 in October after launching the vehicle on September 29, as four months production of over 8,000 units was sold out within just 10 days.
The price of XUV500 has increased with its three variants becoming dearer by Rs 30,000, Rs 50,000 and Rs 55,000 (ex-showroom, Delhi) respectively in the beginning of this year.
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