The Hindu : Business : Kinetic unveils Italjet range

Online edition of India's National Newspaper
Wednesday, Jun 08, 2005

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Business

Kinetic unveils Italjet range

Special Correspondent

The company has got manufacturing and selling rights from the Italian firm

— Photo: R. V. Moorthy

NEW LOGO, NEW RANGE: The Joint Managing Director of Kinetic Motor, Sulajja Firodia Motwani, with the General Manager Marketing, Ajinkia Firodia, unveiling the new range of scooters in New Delhi on Tuesday.

NEW DELHI: Unveiling the Italjet range of seven gearless scooters armed with a new corporate logo, Kinetic Motor Company on Tuesday exuded confidence that it would manage a turnaround this year while the sister concern Kinetic Engineering is expected to do so by next year. "Kinetic Motors is expected to touch a revenue of around Rs. 400 crore with a sales target of 1.50 lakh scooters this year.

With this in mind we expect the company would turn around this year,'' the KEL Joint Managing Director, Sulajja Firodia Motwani, told reporters on the occasion of the launch of the new range.

She said the company was aiming at a 30 per cent growth in scooters sales this year — both domestic and exports combined — with the Nova model to be the main growth driver at about 50,000 units, followed by Zing (40,000 units) and the balance by the models from the Italjet range.

For the new range rolled out, the company has bought the manufacturing and selling rights from the Italian two-wheeler maker Italjet. However, she did not disclose the amount paid to Italjet for acquiring the rights. While the first of the Italjet range of scooters is likely to hit the markets in the next two months, the second one will be launched by Diwali.

The scooters are likely to be priced between Rs. 25,000 and Rs. 1 lakh.

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