For Mahindra & Mahindra (M&M), the XUV 5oo is now the flagship, what with the automobile major selling 1 lakh units of the sports utility vehicle (SUV) in the Indian market. The Mumbai-based company achieved the milestone on Tuesday, 33 months after the vehicle’s launch in the domestic market.

“This is a milestone to cherish as it is the fastest growth for an SUV in the ₹10-20 lakh segment. The XUV 5oo has really turned out to be a product that meets the expectations and aspirations across customer segments,” Pravin Shah, M&M’s Chief Executive Officer (Automotive Division and International Operations), told BusinessLine .

M&M had launched the XUV 5oo as three models on September 29, 2011, with prices ranging from ₹10.80 lakh to ₹12.88 lakh (ex-showroom, Delhi). The SUV, which sold 50,000 units as of January 2013, was given a new lease of life with a fourth model recently.

M&M had sold more than 3,000 units of XUV 5oo during the quarter-ended June 30. According to industry data, M&M had a 51 per cent market share in domestic high-end SUV segment and 40 per cent of the SUV segment during the quarter.

“XUV 5oo is also doing well in international markets,” Shah said. M&M exports the vehicle to South Africa, Europe, Chile, Peru, Paraguay, Australia and neighbouring countries such as Sri Lanka.

M&M, which sells the SUV through its 300 network points, had also introduced ‘Buddy Services’ (one relationship manager for every customer) for pushing sales.

Since its launch, XUV 5oo has won about 25 awards, including ‘SUV of the Year’, ‘Readers Choice Award’ and ‘Best Value for Money Car’ from Top Gear Magazine Awards 2011 and ‘SUV of the Year’ award from Car India Awards 2012. The brand has more than 1.8 million fans on Facebook and gets about 10 million views a month on Youtube.

The success of the XUV 5oo would also result in M&M bringing in higher price point vehicles into Indian market, such as the Ssangyong Rexton.

The company’s other products, such as the Bolero, Scorpio and Xylo, are also doing well. “M&M has learned the art of launching products that complement its existing line,” Shah added.

The Mumbai-based company is gearing up to launch hybrid and automatic transmission variants of the model, Shah said, but did not provide details.

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