Pune—based commercial vehicle maker Force Motors on Tuesday said it aims to sell 40,000 vehicles in 2012—13, a growth of 25 per cent from the last fiscal.

The company, which is targeting a turnover of Rs 2,750 crore in the current financial year, also said it will roll out a high—end passenger vehicle in 2013.

“We are targeting sales of 40,000 vehicles in the current fiscal compared to 32,000 units sold in last financial year,” the company’s President and COO Naresh Kumar Rattan told reporters.

“There are signs of recovery in the commercial vehicle segment, though there was a slowdown during past two months,” he said.

Force Motors, which has an installed capacity of 66,000 units per annum, has forayed into 20—30 seating capacity of vehicle in light commercial vehicle (LCV) segment with the launch of ‘Traveller 26’

“Market size for vehicles with 20—30 seating capacity is pegged at 22,000 units per annum and we are aiming at 20 per cent market share in 2013—14 with entry into this segment,” he added.

Force Motors claims to have over 50 per cent market share in 9—20 seating capacity vehicles under LCV segment.

Commercial vehicles segment accounts for 85 per cent of company’s total business.

After the launch SUV ‘Force One’, the company now wants to launch high—end passenger vehicle in 2013 which will have less than 10 seats.

“Our new high end van will be competing with Toyota’s Innova and other brands operating in this space,” Rattan said without divulging about the price of the vehicle.

On tractors segment, Force Motors plans to sell 2,400 units of tractors in current fiscal against sale of 1,650 units in the last year.

Force Motors is eyeing a total turnover of Rs 2,750 crore for the current fiscal against Rs 2,085 crore sales recorded in the last fiscal.

(This article was published on November 6, 2012)
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