Ahmedabad: Mahindra group Thursday launched its high-end luxury SUV, Rexton, from the portfolio of Korean subsidiary Ssang Yong Ssang Yong stable, in Gujarat.
The demand for luxury SUVs has been growing in the country but it forms only a small part of the overall passenger car sales, Mahindra's VP-Marketing, Automotive Division, Ashish Malik said.
"The market for high-end luxury SUVs in the country just got doubled last year to nearly 30,000 units, which was just one percent of the total passenger car market of India," Malik said on the sidelines of Rexton's launch in Gujarat.
"Currently, high-end SUV segment is growing at 10-12 percent (first nine months)," he said.
Mahindra had recently ramped up the production capacity of Rexton to 500 units per month at its manufacturing facility at Chakan in Pune to meet the growing demand.
The company has so far has delivered 400 Rextons and has pendency of around 1,200 units across nine cities in India. The company would open 20 more outlets in different cities soon.
The high-end luxury SUV's range starts at Rs 18 lakh. The prominent SUVs of different brands in the segment are Captiva, Fortunner, Pagero among others.
Rexton is the first SUV launched by Mahindra from the portfolio of the Korean subsidiary Ssang Yong.