Financial Daily from THE HINDU group of publications
Wednesday, Jun 08, 2005
Financial Daily from THE HINDU group of publications Wednesday, Jun 08, 2005 |
|
|
|
|
|
Marketing
-
New Products & Services Kinetic unveils Italjet scooters Our Bureau
Ms Sulajja Firodia Motwani, Joint Managing Director, Kinetic Motor, with GM-Marketing, Mr Ajinkia Firodia, unveiling the new range of Italiano Scooters in the Capital on Tuesday. — Ramesh Sharma
New Delhi , June 7 KINETIC Motor Company, on Tuesday said that it would sell seven new scooters over the next two years, which would help to turn around the company's financial performance. The company unveiled seven Italian-designed scooters, with three of them hitting the roads this year. Kinetic, which has purchased the design and technology for the scooters from Italjet Moto SpA, will sell the scooters starting August, the Joint Managing Director, Ms Sulajja Firodia Motwani, said at a press conference here today. The scooters will be priced from Rs 25,000 to Rs 1,00,000, with engine capacitiesranging from 50 cc to 250 cc, she said. "We want to consolidate our position in the scooter market while our rivals concentrate on motorcycles. Customers in India want newer scooter models and we believe that these models will help us catch up," Ms Motwani said. Kinetic sold 70,902 scooters last fiscal and aims to grow this figure to 1,35,000 scooters in the domestic market and 35,000 units overseas this year, Ms Motwani said. "We expect Kinetic Motors to touch a revenue of around Rs 400 crore this year. With this in mind, we expect that the company would turn around this year. What we are aiming is for a 30 per cent growth in scooters sales this year, both domestic and exports combined. We expect the `Nova' model to be the main growth driver at about 50,000 units, followed by Zing at about 40,000 units and the rest by the models from the Italjet range," she said. The first of the Italjet range of scooters is likely to hit the markets in the next two months while the second one will be launched by Diwali, with a total three launches expected in the current year. "We have brought in the Italjet range not only for the Indian market but also for the export markets, including Europe. The products will be manufactured in India," Ms Motwani said, adding that three models would be launched specifically for the export market this year. On plans for the motorcycle segment, Ms Motwani said, Kinetic Engineering Ltd would introduce two new variants of its existing models `Boss' and `Velocity' this year. "With the auto components business picking up, Kinetic Engineering is expected to turn around next year. Currently, the company is doing auto components business worth Rs 70 crore-80 crore," she said. The Kinetic Group is also looking for strategic alliances to expand its operations and is likely to make an announcement to this effect in the next few weeks. The Group today also introduced a new logo for its two wheelers, dealership insignia and other brand related initiatives.
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|