To improve its top line Hindustan Motors (HM) is working towards launching a fleet of commercial vehicles for this fiscal year (2011-2012). The company has invested around Rs. 70 crore for the launch of these vehicles, which also includes two sports utility vehicles from Mitsubishi.
Speaking to the reporters on August 8, 2011, at the launch of o.8 tonne small commercial vehicle “Veer”, Mr. Manoj Jha,, Managing Director of HM stated that the company was planning to introduce more commercial vehicles this year. The company also has plans to launch CNG versions of its vehicles.
Commenting on the future launches, Mr. Jha stated that the company was ready to introduce two new models on Ambassador and Winner platforms. These models would be introduced in October 2011. The company will also launch two Mitsubishi SUVs. Where as a seven-seater Mitsubishi Outlander will hit the Indian roads by the October-November of 2011, the other SUV will be launched in January 2012 and would be priced under Rs. 30,00,000.
Mr. Jha also added that once the company’s three production units in West Bengal, Chennai and Indore are operating at their full capacity the company expects to earn profits “At an annual production of approximately 50,000 units.” HM aims to reach its target levels in 2013-14.