Kinetic launches new scooter; to sell 75,000 units
Mumbai (PTI): Reeling under heavy losses, two-wheeler maker Kinetic Motor Co (KMC) on Friday rolled out its 125 cc gearless scooter Flyte in an attempt to revive fortunes in the 7.8 million unit strong Indian market.
Flyte, which was launched in select North Indian markets two months ago, is the first product to be developed jointly by KMC and its Taiwanese partner Sanyang Motor (SYM).
So far, the company has sold 5,000 units of Flyte. It expects to sell 75,000 scooters pan-India in the next fiscal.
"This year the sales of motorcycles have shrunk by 13 per cent, whereas scooters have witnessed a 30-per cent growth. We will continue to focus on scooters which is the fastest growing two-wheeler segment," KMC Managing Director Sulajja Firodia Motwani told reporters here.
She said the company expects to break-even with revenues close to Rs 250 crore by 2008-09.
KMC is targeting women buyers with its new scooter and has roped in Bollywood actor Bipasha Basu as its brand ambassador.
The company had entered into an agreement with SYM for co-developing and selling scooters from the Taiwanese company's global portfolio in India. It has invested Rs 15 crore in developing Flyte.
SYM presently holds a minority stake in KMC.
KMC also has a tie-up with Italy-based Italjet from whose stable it sells 150 cc Blaze in the country.
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