Financial Daily from THE HINDU group of publications
Tuesday, Jun 15, 2004
Financial Daily from THE HINDU group of publications Tuesday, Jun 15, 2004 |
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Corporate
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Announcements Marketing - New Products & Services HM launches new range of Lancer Our Bureau
New Delhi , June 14 HINDUSTAN Motors (HM) has launched an upgraded range of the premium mid-size car Lancer, which would be offered along with a three-year or 50,000-kilometre warranty. The four new `Lancer' models have been priced in the bracket of Rs 7.25-9.77 lakh (ex-showroom, Delhi), the HM Chief General Manager, Mr S.C. Gupta, said here on Monday. With the launch of the new range, the company aims to sell 5,000 units of the car this fiscal as compared to the over 4,000 units sold last year. Lancer is manufactured at the company's Chennai plant, which has an annual production capacity of 12,000 units. On whether the company would lease out its excess capacity to other automakers, Mr Gupta said: "that will be a corporate decision and the company will take a call on it as and when it was needed". Earlier, it was reported that the company was in talks with a number of carmakers, including Proton of Malaysia, to lease out the idle capacity at the Chennai facility as it made business sense to the company. The 12,000 units' capacity could further be augmented with a little investment, he said.
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