M&M to ramp up XUV500 production
Next new model, an entry level SUV, will come by Diwali.
The increased capacity should be installed by August and will entail an additional investment of around Rs 100 crore. The initial installed capacity for the XUV500 was 3,000 units a month but with the current level of demand, that's clearly not enough. M&M received over 25,000 bookings in the second booking window for the XUV500 across 19 cities.
Mahindra is also planning a new 'low-cost' SUV which the company hopes to launch by Diwali this year.
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