Business Daily from THE HINDU group of publications
Saturday, Oct 11, 2008
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Business Daily from THE HINDU group of publications Saturday, Oct 11, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate
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Outlook AMW lowers sales target by 9,000 units
Manu P. Toms Mumbai, Oct. 10 Truck makers Asia Motor Works (AMW), which had earlier set a sales target of 17,000 units for the current financial year, lowered it to 8,000. “We will end up at best selling 8,000 units,” Mr R.C. Mangal, Senior Vice-President (Marketing), Asia Motor Works, told Business Line. The company, which manufactures medium and heavy commercial vehicles in the range of 49-25 tonnes, sold around 3,000 units during the last fiscal. The company sold close to 2,000 trucks so far this year. “The macro-economic conditions have changed drastically ever since we first announced our target. In the past seven months, there were six revisions of interest rate. “The availability of finance is also an issue,” said Mr Mangal. AMW had earlier announced its plans to enter into the light commercial vehicles (LCV) segment too. “We may be able to announce the exact launch date of our LCV product in two-three months’ time,” said Mr Mangal. “The current market condition is not good for LCV launch,” he said. He said that the company expects a Rs 2,000-crore turnover for the current financial year. The company recently upgraded its manufacturing capacity to 50,000 units from 10,000 at its facility in Bhuj in Gujarat. AMW, which currently has 39 main dealers across the country, is looking to increase the number of dealerships to 45. The company appointed a new dealership — Aditya Motors — which will cater to the Mumbai region including Thane and Raigad districts. AMW firming up plans to enter into LCV segment AMW plans presence across CV segment Asia Motor Works to launch GPS-fitted trucks in 3 months Asia Motor Works plans 5,000 trucks sale this year Asia Motor Works plans customised body solutions Asia Motor aims at Rs 750-cr revenue More Stories on : Outlook | HCV/LCV/Tractors
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