M&M studying market for 'Korando' launch in India
The company had showcased its Korean subsidiary Ssangyong's two SUVs - Rexton and Korando - for the first time in India during the Auto Expo in January 2012.
"We are working on the products. We studied market for both Korando and Rexton and decided that Rexton has a place in Indian market at present so that was given the first priority," Mahindra & Mahindra Chief Executive – Automotive Sector P N Shah told reporters here after unveiling the Rexton for the Kolkata market.
However, he added: "We have not shelved our plan to launch Korando in India. We are just looking for the right opportunity."
Rexton, the first product launched by M&M from the portfolio of Korean subsidiary Ssangyong, has been priced between Rs 18.73 lakh and Rs 20.93 lakh, ex-showroom Kolkata.
The Rexton is being manufactured and assembled at the company's Chakan plant near Pune, he said.
Shah said Rexton has already received booking for 1,500 units since its October launch and the company plans to ramp up capacity by 500 units in order to lower waiting period.