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HM drops Pajero, launches Carisma
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Excerpts - TIMES NEWS NETWORK
JAN 18, 2005
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In A bid to generate more revenues, Hindustan Motors , owned by the CK Birla group, is trying its best to make efficient use of its existing facilities either by unlocking value or by launching new model of cars this year.
It is learnt that the company is launching a new D segment car Mitsubishi Carisma in the Rs 10-12 lakh price range. It plans to stop selling the 2.8-litre Pajero and instead plans to launch a premium and a regular SUV.
The premium SUV Montero, to be imported as a CBU, with a 3.2-litre engine is estimated to be priced around Rs 35 lakh, while the regular SUV, Pajero Sport is expected to be to be priced around Rs 18 lakh.
The restructuring of its product portfolio also includes the launch of the Lancer 1.6-litre. “With the launch of the Lancer 1.6-litre, we will have to reposition the existing Lancer range,” says SC Gupta heading the Lancer and the Pajero project.
Sources in the company said that stagnation in sales of Lancer manufactured under a technical
license from Mitsubishi was threatening the viability of the Chennai plant, which HM set up for Rs 250 crore.
Lancer sales are now hovering at 250 cars per month, forcing the company to have discussions with Mitsubishi for introducing newer models.
Sources said it was not possible for HM to enter the small car segment as that would require huge investments.
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