Armed with a new corporate logo, Kinetic Motor Company on Tuesday said it expected to turn around this year, while the sister concern Kinetic Engineering is expected to do the same next year.
"Kinetic Motors is expected to touch a revenue of around Rs 400 crore (Rs 4 billion) with a sales target of 1.50 lakh scooters this year. With this in mind, we expect the company would turn around this year," Sulajja Firodia Motwani, KEL joint managing director said.
"What we are aiming is for a 30 per cent growth in scooter sales this year, both domestic and exports combined. We expect the 'Nova' model to be the main growth driver at about 50,000 units, followed by 'Zing' at about 40,000 units and the rest by the models from 'Italjet' range," she said.
The company introduced the 'Italjet range' of seven gearless scooters, for which it had bought the manufacturing and selling rights from Italian two-wheeler maker Italjet.
She, however, declined to disclose the amount paid to Italjet for acquiring the rights. The first of the 'Italjet' range of scooters is likely to hit the markets in the next two months while the second one will be launched by Diwali.
The scooters are expected to be priced between Rs 25,000 and Rs 1 lakh. She said the company would have 40 new dealers across India for the Italjet range of scooters.
"We have brought in the Italjet range not only for the Indian market but also for the export markets, including Europe. The products will be manufactured in India," she said, adding three models would be launched for the export market this year.
(Above) Sulajja Firodia Motwani, joint managing director, Kinetic Engineering Ltd, launching the Italjet series scooters in New Delhi on Tuesday June 7, 2005. Photograph: Dijeswar Singh/Saab Pictures
