— At the New Delhi Auto Expo that opened today and runs until January 17, Mitsubishi Motors Corporation today unveiled the new Lancer to be produced and sold by the company's local business partner Hindustan Motors Limited (HML). The model will carry the Lancer Cedia nameplate in India.
The new model will be produced alongside the current Lancer that went into production and on sale in 1998 and will be sold through HML's network of 37 dealerships. Plans call for an annual sales volume of 3,600 units.
The company plans to export to and introduce in India a new Pajero model in May this year and later to launch Outlander (Airtrek in Japan) and Grandis models.
The company is working to expand its lineup of Mitsubishi brand vehicles and to boost its presence in India which, with Brazil, Russia and China, is a member of the emerging BRICs countries that are seen as promising growth markets for the near future.
(For reference) HML profile
| 1. |
Company name: |
Hindustan Motors Limited
(a member of the Birla business grouping) |
| 2. |
Date of establishment: |
1942 |
| 3. |
Location: |
Head office: Kolkata / Factory: Chennai (Lancer) |
| 4. |
Senior management: |
Chairman, C.K. BirlaPresident, R. Santhanam |
| 5. |
No. employees: |
400 (in the MMC division) |
| 6. |
Capitalization: |
INR 1.8 billion |
| 7. |
Business lines: |
Manufacture and sales of automobiles |
| 8. |
Models sold: |
Lancer, Pajero |
| 9. |
Fiscal 2004 sales volume: |
| Lancer (current) |
2,100 |
| Pajero |
100 |
| Total |
2,200 |
|
