Despite anticipated fears of slow growth in the commercial vehicle segment, the Pune-based automotive major, Force Motors, is eyeing a 20 per cent growth this year.
Naresh Kumar Rattan, COO & President, Force Motors Ltd, said after an impressive growth in the first four months of the current financial year, slow growth have been witnessed in September and October.
However, with late signs of recovery, the company hopes to achieve its targets.
Force India is eyeing business of Rs 2,750 cr this year as against Rs 2085 cr achieved last year.
Rattan said as against 32,000 units sold last year, the company is hopeful of selling 40,000 units this year.
The light commercial vehicle segment continues to be the main focus area for Force Motors which also sells multi-utility vehicles and tractors.
Meanwhile, Rattan today launched the 26-seater Monocoque Panel Van in Chandigarh.
The Traveller 26, said Naresh, is loaded with several path-breaking and novel features offered for the first time in a mid size bus (20 – 30 seats) segment. He added that the Dual Mass Fly Wheel Technology has been used for the first time on an LCV in India – this absorbs low end vibrations and ensures smooth ride even at low speeds.
Force Motors is eyeing selling 1,000 Traveller 26 by March next year. Force Motors, which commands more than 50 per cent market share in the 9-20 seats bus segment, is eyeing a 20 per cent market share in the mid size bus (20 – 30 seats) segment by the next financial year.