Japanese automaker Mitsubishi, which has so far failed to make a mark in the Indian automotive market, hopes to give itself another chance with launch of couple of cars in the next few years.
According to Uttam Bose, managing director, Hindustan Motors Finance Corporation (HMFCL), the manufacturer and importer of Mitsubishi cars in India, Mitsubishi is looking to make its first launch in the form of Eclipse, a mid-market sports utility vehicle (SUV). It will be pitted against Fiat Chrysler's popular Jeep Compass that has sold over 25,000 units since its launch in July last year.
Bose said since Eclipse is mainly sold in the US markets, it holds good even for the Indian markets as far as emission (after BS-VI) and safety norms are concerned. "Not much work is required for introducing it in India," Bose said on the sidelines of the launch of fourth generation Mitsubishi Outlander in Mumbai last week. The management is eyeing the deadline of 2020 for the Eclipse's launch, Bose told DNA Money.
Analysing the success of Jeep Compass, Bose said its manufacturer did maximum localisation before the launch and passed on the benefit of low price to the customers. "As India is a highly price sensitive market, this has given Jeep compass a USP," he said.
According to the company executives, Mitsubishi is also looking to launch its second car Expander, a multi utility vehicle (MUV), to compete with Maruti's Ertiga, Toyota's Innova or soon-to-be-launched Mahindra & Mahindra's (M&M) Marazzo.
Though Expander is already sold in Thailand, the Philippines, Indonesia and a few other markets, the India launch is at least two years away. A lot of changes are needed, especially in engines, before it could be declared fit for launch in the Indian market, the executive said.
At present, Mitsubishi sells three models – Pajero Sports, Montero and Outlander – in India. The company has struggled to succeed in India and had to be content with lesser product portfolio in comparison to its competitors. It also phased out a couple of low-volume products. Mitsubishi became part of the Renault-Nissan alliance in 2016, after Nissan took over 34% stake in it.
During last fiscal it sold around 850 units against 1,500 units over the previous one. At present, it assembles only Pajero Sports in Chennai plant while Manterro and Outlander are completely built units.
The company executive said Renault- Nissan is in a re-strategising mode and the global distributors' meet in November this year is expected to provide some direction to Mitsubishi's operations in India.
SPEEDING UP
- Eclipse is primarily sold in the US markets, it holds good even for Indian markets as far as emission (after BS-VI) and safety norms are concerned
- Mitsubishi is also looking to launch its second car Expander, a multi utility vehicle (MUV), to compete with Maruti's Ertiga, Toyota's Innova
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