Pune-based Force Motors today launched its new off-roader Gurkha with price starting at Rs 6.25 lakh and said it plans to launch a new nine-seater multi-purpose vehicle licensed from Mercedes by first quarter of 2014.
The new off-roader comes in three variants and is priced at Rs 6.25 lakh, Rs 8.35 lakh and Rs 8.50 lakh (ex-Showroom Delhi) and is powered by 2.6 liter diesel engine.
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.
"By the first quarter of 2014, we will be launching a nine-seater multi-purpose vehicle, which has been licensed from Mercedes," Force Motors Managing Director Prasan Firodia said on the sidelines of 3rd International Bus and Utility Show 2013 here.
He said the company has invested over Rs 500 crore on the product, which includes shifting of the production facility from Spain to India. "The vehicle will be sold under the Force brand," he added.
Talking on other products planned for future, Firodia said: "In the next few months we will be bringing three-four variants of the Force 1, which till now is a single offering."
On the newly launched Gurkha, he said: "We are entering a very niche segment with this vehicle. The market is about 8,000-10,000 units a year and our target is to sell about 1,000 units in the first year."
The company has spent around Rs 50-60 crore on the development of the vehicle.
On the overall sales growth for the ongoing fiscal ,Firodia said: "This year we are expecting a growth of around 6-8 per cent compared to last year at around 45,000 units."