Force Motors target a sale of 40,000 units in 2012-13 - A growth of 25 per cent

Saturday 10 November 2012, 11:07 AM by

Force Motors on November 6 said that the company eyes to sell 40,000 unit in 2012-13 which is 25 per cent more than the last financial year. The Pune based company also announced that it will launch a high-end passenger vehicle next year. Force Motors is targeting a turnover of Rs. 2750 crore this Fiscal which stood at Rs. 2,085 crore in the last financial year.

Force Motors' President and COO Naresh Kumar Rattan talking to reporters in Chandigarh said, "We are targeting sales of 40,000 vehicles in the current fiscal compared to 32,000 units sold in last financial year." He further added, “There are signs of recovery in the commercial vehicle segment, though there was a slowdown during the past two months."

Force Motors recently launched 'Traveller 26', the first of its kind vehicle and this launch marked its entry into light commercial vehicle (LCV) segment with 20-30 seating capacity. The other companies already present in this segment include Tata Motors and Swaraj Mazda. Rattan said, “Market size for vehicles with 20-30 seating capacity is pegged at 22,000 units per annum and we are aiming at 20 per cent market share in 2013-14 with an entry into this segment"

Though the company has entered 20-30 seating capacity segment now, it already has more than 50 per cent market share in 9-20 seating capacity LCV segment. Commercial vehicle segment alone contributes for around 85 per cent Force Motors' total business.

After the successful launch of 'Force One,' the company now plans to launch a high-end passenger vehicle with less than 10 seating capacity by the end of 2013. Talking about this Rattan said, “Our new high end van will be competing with Toyota's Innova and other brands operating in this space."

The company plans to sell 2,400 units of tractors in 2012-13, which stood at 1,650 units last year, Rattan added. He further pointed out that the company has already invested Rs. 250 to 300 crore out of Rs. 1000 crore, which it plans to invest towards expansion of passenger and commercial vehicle segment.

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