The alliance will extend an existing partnership between the two.
Japanese car maker Mitsubishi Motors Corporation has decided to manufacture its sports utility vehicle Outlander in India, through its Indian joint venture with Hindustan Motors, a C K Birla Group company. The Indian JV currently manufactures the Lancer range of sedans, sells Montero, a premium segment sedan, and imports completely built SUV Pajero. The company had earlier considered the option of importing Outlander as a fully-built unit for the Indian market.
Mitsubishi Motors will be strengthening its position in the high growth sports utility vehicle market by launching the all-new Outlander in early 2008.
Hindustan Motors will launch the Lancer Cedia on January 12, 2006.
The company is far behind its aggressive Japanese competitors, selling only 4,000 vehicles annually.
Media report says unfavourable excise structure, large investments are the main reasons
The company is looking to exploit the upper B+ segment, which has seen high demand growth since the launch of Maruti's Swift, followed by several models like the Hyundai i20, Fiat Grande Punto, Maruti Ritz, Volkswagen Polo and Nissan Micra.
Mitsubishi Motor Corporation's plan to produce a volume-generating compact car from India has been indefinitely deferred for lack of funds and sliding demand.
Mitsubishi will pull out of cross country rallying, including the Dakar Rally which the Japanese team has dominated in recent years, as part of cost-cutting measures caused by the global economic downturn. With Wednesday's announcement, Mitsubishi Motors became the latest Japanese automaker to scale back their motorsport activities following Honda's shock exit from Formula One in December.
Mitsubishi Motors, Japan's fourth largest carmaker, is looking to grab a slice of the 1.2 million per year Indian small car market and is mulling the launch of a compact family hatchback over the next three to four years.
If you are a motorsport enthusiast and have a Mitsubishi Pajero, here's a chance to test the capabilities of your vehicle to the fullest and enjoy a good time out in the open at the same time. HM-Mitsubishi Motors in association with Sportscraft is organizing 'Heart in Mouth', an off-road driving rally around Belapur in Navi Mumbai on September 6.
Japanese automobile company Mitsubishi Motors may launch a compact car in the B segment in the country. The car is expected to hit the roads in three years. Though Mitsubishi sells Pajero SUV and Lancer sedan in India, they have not generated adequate volumes for the Japanese automobile company. The compact car will take on Maruti Swift, Hyundai Getz, Skoda Fabia, Fiat Palio, Chevrolet U-VA and Ford Fusion
"We are planning to bring Evo 10 to India through the completely built route (import). This may push the cars' end cost but the company has no plans to locally build the car yet. The response for the car (from the market) will decide whether it can be manufactured here or not," said a company executive on the condition of anonymity. Internationally, the car costs $30,473 (Rs 12 lakh) and $32,697 (Rs 13 lakh) for different variants.
The GP-C K Birla group-promoted Hindustan Motors is planning to launch new products from the Mitsubishi stable in the next six months.
Mitsubishi Motors on Thursday said it plans to launch its sedan Cedia and sports utility vehicle Montero by the first quarter of the next year in partnership with Hindustan Motors.
Amidst threat of intense competition in the car industry, C K Birla Group company Hindustan Motors Limited is planning to launch new models of its hi-end Lancer cars.
Japan's Mitsubishi Motors on Thursday said it would offer a discount of Rs 10,000 on all models of its sedan Lancer in a bid to arrest slump in sales during the monsoon.
Hindustan Motors on Friday said it would enter the luxury 'D' segment in collaboration with Mitsubishi Motors in the calendar year 2005.
Hindustan Motors currently has two facilities one at Uttarpara in West Bengal and Tiruvallur plant in Tamil Nadu.
Suzuki patriarch steps down from CEO post as mileage test storm grows.
Auto stocks are weighing on the indices.
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