Force Motors today said it is looking at around 5 per cent growth in sales this fiscal on the back of new product launches amid a tough automobile market. The Pune-based company, which today introduced two new variants of its sports utility vehicle Force One priced at Rs 8.99 lakh and Rs 11.99 lakh, said the slowdown will not impact its plan of investing Rs 1,000 crore till the first quarter of 2014 to bring new products and overall network expansion in India.
"For us fortunately, the segments in which we are present are not affected as badly as others, specially in the commercial vehicles. So overall we are looking at about 5 per cent sales growth this year," Force Motors Managing Director Prasan Firodia told reporters here. The company had clocked a total of around 45,000 units last year from both its commercial and passenger vehicles segments.
On the SUV Force One, he said: "With the two new variants coming in, we are now looking at more numbers. So far we have sold 2,600 units of the vehicle, now we are targetting 3,500." The company has set a target of selling 5,000 units of the Force One in 2014-15. The Force One SX variant priced at Rs 11.99 lakh (ex-showroom Delhi) will be targetting upmarket customers in metros like Delhi.
On the other hand, the Force One Ex variant priced at Rs 8.99 lakh (pan India) will target Tier II and III towns, Firodia said, adding that within six months the company would upgrade the engine of this variant to BS IV from the current BS III in order to be able to sell in cities like Delhi. When asked about the company's off-roader Gurkha, he said it will go on retail sales from September with price starting between Rs 6.25 lakh and Rs 8.50 lakh (ex-Showroom Delhi).
"We are sticking to the target of selling about 1,000 units in the first year," he added. The company is planning to launch a new nine-seater multi- purpose vehicle licensed from Mercedes by first quarter of 2014. Force Motors is in the process of investing Rs 1,000 crore till the first quarter of 2014 to bring new products and overall network expansion in India.