Nashik: Leading automobile maker Mahindra and Mahindra Tuesday launched Xylo, a multi-purpose vehicle, targeting high-end consumers.
“With the launch of the Mahindra Xylo, the era of sedans is under serious threat. The sedan has long been considered the ultimate in high-end mobility but the Xylo is all set to change this perception,” Mahindra Group vice chairman and managing director Anand Mahindra told reporters.
“We are targetting sedan and Innova buyers,” Mahindra auto sector, chief of operations Rajesh Jejurikar said.
Priced lesser than Innova, Xylo E2, the basic model, would come at Rs6.78 lakh ex-showroom Delhi and Xylo E8, the advanced version, is priced at Rs8.40 lakh.
The basic model of ‘Innova´ is priced at Rs7.60 lakh and advanced model costs Rs9.29 lakh. Dzire, which has a sales of 5,000 per month, is priced at Rs5.84 lakh.
“People opting to buy Dzire can move to Xylo with reasonable ease,” Jejurikar said.
The car has been developed at the company’s Nashik facility with an investment of Rs550 crore.
Xylo would be rolled out in 36 towns with 57 dealers. By the end of February, another 44 dealers would be added, Jejurikar said.
The company is making 60 Xylos a day at the facility with a capacity to make 25,000 a year.
“We can ramp up from 25,000 easily if the demand is good,” Mahindra auto sector President Pawan Goenka said.
The company has tied up with group company Mahindra Finance, four public and private sector banks for financing of Xylo. MORE PTI GN HVJ KG