Commercial vehicles-maker Asia MotorWorks (AMW) on Wednesday said it plans to launch up to five models by December this year as it looks to increase sales volumes by three-fold this fiscal.
The company is also looking expand its export market, eying an entry into the Middle East and Africa by the second half of next fiscal.
"In the next three to four months, there will be a slew of products that we will be introducing in the market, starting with a 16-tonne tipper next month," Asia MotorWorks Managing Director and CEO Anirudh Bhuwalka said on the sidelines of the Society of Indian Automobile Manufacturers (SIAM) annual summit.
He said the 16-tonne tipper will be the first product in the segment. The other five models that will follow will be in the 25-tonne to 49-tonne commercial vehicles segment.
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He said the company is eying the sale of about 20,000 commercial vehicle units this fiscal, as against 7,000 units last fiscal.
Commenting on the export plans, Bhuwalka said AMW is already exporting its vehicles in small numbers to Nepal and Bhutan.
"Going forward, we are looking at the other SAARC countries and also the Middle East and Africa," he said.
The groundwork for exports, such as setting up of dealerships in the Middle East and Africa, would happen in the first half next fiscal and physical shipping of commercial vehicles to these markets may happen toward the latter half of FY'13.
Asked about the company's capital expenditure plans, Bhuwalka said the company has invested Rs 1,500 crore on its Bhuj plant, in Gujarat, which has an installed capacity of 50,000 units per annum, and is not looking at any major spending at present.
He, however, said some amount of investment would be made on improving its service and dealer distribution network. By 2012, the company plans to have 122 dealers, up from 79 at present.