Atul Auto November sales up 31%


Rajkot-based three-wheeler maker Atul Auto Ltd has posted a 31 per cent rise in sales during November this year to 2997 units over 2286 units in the same period last year.

The firm's sales during the April to November period stood at 20748 units, up 20.75 per cent over 17183 units in the same period last fiscal.

As for exports, Atul is also focussing on Bangladesh and Kenya this year. Back home, it is eyeing a 20 per cent growth in the domestic space.

It also expects to raise its market share from a current 5 per cent to six per cent this fiscal. The company would increase the number of dealerships to 150 from a current 120 by March 2013.

Meanwhile, Atul Auto has also drawn up plans to set up an assembly unit in Sri Lanka with an investment of around Rs 100 crore.

Earlier in October, the company announced that it plans to incorporate a company in the neighbouring country for the purpose.

Atul will make three-wheelers, powered by diesel engines, for intra-city passengers and cargo applications in Sri Lanka.

Atul has made an application to the Board of Investment of Sri Lanka seeking approval for the investment to be made in the neighbouring country.

The assembly plant in Sri Lanka is planned to combat the recent import duty hike imposed by the Sri Lankan government.

Sri Lanka had hiked the import duty on three-wheelers from 51-61 per cent to 100 per cent earlier this year.