Even as the economic slowdown is biting the passenger car segment, Japanese automaker Isuzu Motors is hopeful of garnering more business thanks to sales growth in SUVs and LCVs.
According to Takashi Kikuchi, President and MD, Isuzu Motors India, the slowdown has not impacted the pickup vehicles markets.
The company registered an 11 per cent growth in SUV (sport utility vehicle) and LCV (light commercial vehicle) sales in 2012-13.
The current fiscal is expected to witness similar growth. Isuzu is the market leader in the pickup vehicle segment in West Asian and South-East Asian countries, with a market share of more than 30 per cent, he said.
Kikuchi was here on Thursday in connection with the launch of the MU-7, an SUV, in the Kerala market. Speaking to Business Line on the sidelines of the event, he said the company had sold more than 200 MU-7s that were test-marketed in India in February last year after being imported as completely built units.
Later, in December 2013, Isuzu had entered into a contract manufacturing agreement with Hindustan Motors to assemble completely knock down units for the MU-7 and the pickup truck D-Max at Tiruvallur near Chennai.
The plant has the capacity to assemble 5,000 vehicles a year. The company’s own ₹3,000-crore manufacturing facility is likely to be operational by 2015-16 at SriCity near Hyderabad, he added.