Indore: Launching its 26-seater Traveller van, Force Motors Thursday said its eyeing sales of 1,000 units of the new variant by March 2013, and 4,500 in the next fiscal.
In an expansion plan, Force Motors would spend Rs 1,000 crore on its Pune and Pithampur (MP) plants to raise Traveller's production in next three years, Managing Director Prasan Firodia told reporters here.
Of this budget, the company would spend Rs 700 crore in Madhya Pradesh's Pithampur plant, Firodia said.
Having a market share of 58 percent with nearest rival Tata Winger in van category, Firodia said the company expected a turnover of Rs 3,000 crore in the current fiscal year as against Rs 2,400 crore in last fiscal.
Force Motors would also built a nine seater van for Mercedes Benz in coming years, he replied to a question.
The company will raise its market share in the very segment vehicle from 15 percent to 20 percent, he said.
Force Motors had 7 to 8 percent of export out of its total turn over to UAE, Srilanka, Bangaldesh and other European countries, he said.
Pithampur plant is making 36,000 vehicles per annum, and it will rise to one lakh, he along with Naresh Kumar Rattan, President (corp, sales and marketing) said.
The company will have similar launch of the new vehicle having fuel efficiency, safety and space, Rattan said.
First Published: Thursday, November 1, 2012, 22:05