Financial Daily from THE HINDU group of publications
Wednesday, Oct 13, 2004
Financial Daily from THE HINDU group of publications Wednesday, Oct 13, 2004 |
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Outlook Marketing - New Products & Services Kinetic bullish on auto components sales — Launches Comet at Rs 1.67 lakh Our Bureau
Ms Sulajja Firodia Motwani, Joint Managing Director, Kinetic Engineering, at the launch of Comet 250 in the Capital on Wednesday. — Ramesh Sharma
New Delhi , Oct. 12 TWO-WHEELER maker, Kinetic Engineering Ltd, is betting on making a mark in the fast growing auto components' arena. It plans to increase sales of components to companies such as Visteon Corp. and Bajaj Tempo Ltd. "Kinetic plans to sell Rs 60 crore worth of components during 2005-06, as compared to estimated sales of Rs 35 crore this fiscal year," Ms Sulajja Firodia Motwani, Joint Managing Director, Kinetic Engineering said on the sidelines of a news conference announcing the launch of the premium sportsbike `Comet 250.' Meanwhile, Kinetic is aiming to double its motorcycle sales in 2005-06 to 1,00,000 units in the year ending March 2006 on the back of a new 125 cc bike which will be launched in mid-2005. The company is targeting to sell 50,000 bikes this fiscal, which is about half the projection it had made for the fiscal earlier this year. "We have halved the motorcycle sales target for this year keeping in mind the trends of the first six months of 2004-05. We entered the motorcycle market about 2-3 years back and it will take some time to garner market share and ramp up sales," Ms Motwani said. Overall, in addition to 50,000 bikes, the company aims to sell 30,000-40,000 mopeds and about 1.1 lakh units of scooters this year. The Pune-based firm will also launch three scooters from the stable of Italian scooter firm Italjet between December this year and December 2005. Kinetic has acquired rights from Italjet to manufacture and distribute seven scooter models. Kinetic is also toying up with the idea of setting up an assembly unit in one of the East Asian countries to tap the burgeoning two-wheeler markets there. "We are planning to have an assembly unit in Thailand, Indonesia or Taiwan. We will firm up the plan by the end of this fiscal," she said. The East Asian countries are sizeable markets for step-thrus, with Taiwan being very lucrative for scooters. Meanwhile, the company on Tuesday announced the launch of the Comet 250 priced at a whopping Rs 1.67 lakh. Aimed at the upwardly mobile youth, the limited edition motorcycle `Comet 250' would be sold in select cities, Ms Motwani said. The motorcycle, booking for which closes on November 20, will be brought from the stable of Hyosung Motors of Korea as Completely Knocked Down kits (CKDs). The company will sell only 500 units of `Comet 250,' which comes fitted with a 27 brake horse power (BHP) twin cylinder and oil-cooled engine with mono shock absorbers, dual disc brakes, electric start and tyres as wide as that of mid-size car `Esteem.'
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