Wednesday, June 29, 2011
By Pranjal Gera
Force Motors plans to launch a series of Utility Vehicles
Force Motors, the leading producer of light and medium weight trucks, buses and tractors in the Indian market are now planning to launch two SUV’s and an MUV by the mid of year 2013.
Mr. Prasan Firodia commented on this move and said that the company will be launching its first SUV by the next month and it will be priced between 10-12 lakh.
Following this, a MUV will be launched near the end of 2012 and another SUV will be launched in the mid of 2013.
He also said that there is a great potential in the ever growing Indian market and if the first product succeeds in gaining the attention of the market, it will cause a very positive impact on the upcoming products.
The ever growing Indian market has seen a high growth in the sales of small and compact hatchback cars due to easy availability of personal car loans and also the lower cost of these cars, but now, owing to the increase in buyer’s income level and increasing demand of comfort and safety, the bigger and costlier Sports Utility Vehicles are starting to make there mark in the market and are attracting a number of buyers.
The company is planning to sell 4,000 units of the first SUV in the first year of its launch and 9,000 in another year.
Till date, the company has spent a sum of 1.5 billion rupees on this project and the production plant will be having a capacity of 12,000 units per year.
They will be purchasing most of the parts locally in order to keep the cost on a leash.
Also, the company will be launching a new line of small trucks by the end of 2012 which will replace the current small truck range of the company.
The company has planned to spend a sum of 10 billion rupees in this project.