Financial Daily from THE HINDU group of publications
Thursday, Sep 25, 2003
Financial Daily from THE HINDU group of publications Thursday, Sep 25, 2003 |
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Corporate
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Announcements Kinetic to launch five new models Our Bureau
Pune , Sept. 24 KINETIC Engineering Ltd (KEL), which made its presence felt in the motorcycle category with Aquila's launch one-and-a-half years ago, is all set to hit the domestic market with five more models. These are the GF 170, Big Boss 115, Velocity, Laser and King 100, which would be simultaneously launched on October 1. Talking to mediapersons, Ms Sulajja Firodia Motwani, Joint Managing Director, KEL, said the introductory prices would be Rs 38,300 for Velocity, Rs 44,000 for GF 170, Rs 47,000 for Laser, Rs 33,500 for Boss 115 and Rs 19,999 for King. The company is looking to capture sales during the festive season, Navarathri and Diwali. The bikes would be launched in 140 cities across the country through road shows, which were expected to conclude by November 1. Ms Motwani said these bikes would cater to the export markets; KEL was targeting Bangladesh, Sri Lanka and the markets in Africa. She added these bikes were expected to bring in revenues close to Rs 260 crore during the current fiscal as against a turnover of Rs 145 crore last year. KEL is pegging a total turnover for the current fiscal at Rs 450 crore compared to Rs 275 crore for the year ended March 2003. She said the company was targeting sales of 85,000 motorcycles for the current fiscal as against sales of 55,000 for the year ended March 2003. Looking at the other offerings from the company, Ms Motwani said KEL was estimating sales of 50,000 vehicles in the scooterette category, which included Kinetic Zing Standard and Rockin. The company's first product, Kinetic Zoom, was targeting sales of 40,000 vehicles while the target for Nova was 75,000 this year. Nova sales for the year ended March 2003 stood at 42,000. Europe had responded well to the Nova and 12,000 vehicles had been exported, Ms Motwani said. The company was also looking at auto components exports and a US-based company had evinced keen interest in this.
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