New Delhi, Jan 4 (UNI) To consolidate its position in the commercial vehicle segment, HCV manufacturer Asia Motor Works (AMW) today launched its 31 tonne capacity truck here, priced at Rs 17 lakh.
''With better road infrastructure and the Supreme Court ban on overloading of trucks, the demand for heavy commercial vehicles has increased tremendously,'' AMW MD and CEO Anirudh Bhuwalka told reporters here.
The company expects to sell 1,000 units of the truck in the next fiscal, he added.
The product aims at servicing the cement, containers, tankers, petrochemicals, fertilizers, agriculture and general cargo.
The company has a factory at Bhuj, Gujarat, which is running at 50 per cent capacity. ''AMW aims to sell 10,000 HCVs in the next fiscal,'' Mr Bhuwalka said.
The company is also mulling at an entry into the light commercial vehicle segment (LCV). ''We are putting across a strategy for LCV,'' Mr Bhuwalka said adding that the company will not partner any firm for entering the segment.
When asked about exports, Mr Bhuwalka said, ''the Indian market is growing. There is a large addressable market here. We would consolidate our presence here and the next obvious step will be exports.'' The company is also looking at increasing the number of dealers to 60 from the current 29 dealers in 2008, while the service centres will touch the 150-mark from present 40.
According to AMW's Senior Vice President (Marketing) R C Mangal, by April 2008 the company would have a capacity of 50,000 units.
The expansion plan is in place to cover capacity that would be created, over and beyond these 50,000 units.
The company has a 70 per cent market share in the 49-tonne truck segment with 3,000-5,000 units per annum.
AMW is optimistic about the increasing demand for high capacity vehicles, as the road network in the country develops, especially with the completion of the Golden Quadrilateral project.
The company has also completed test runs of its truks equipped with global positioning system (GPS) and has rolled out the first trial batch of 25 trucks. ''With the installed GPS, the fleet owners will be able to have round-the-clock access to the truck,'' said Mr Mangal.
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