HM rolls out premium SUV Montero

NEW DELHI: The CK Birla group company Hindustan Motors is now driving the Mitsubishi brand deeper into the premium segment of the burgeoning Indian car market.

As part of attempts to expand its passenger vehicle portfolio, HM on Thursday rolled out a Rs 29.7-lakh premium SUV Montero, which will be followed by another SUV Outlander in early 2007 and a new premium-segment minivan-cum-sedan Grandis.

The new Mitsubishi vehicles will be introduced in India through the direct import route, Hindustan Motors officials said.

"Once we get enough volumes for the Montero, we can even look at locally producing the same. But Montero will make its India debut through the import route," the official added.

After Montero, HM is now preparing to introduce Outlander in India in Q1 of 2007. "We will be introducing more Mitsubishi cars as part of our plans to ride the growing demand," the official added.

The new roll-outs would targetted at the burgeoning premium end of the passenger vehicle market. "We do not want to look at the small car market now. Besides, demand in the premium vehicle market is growing at a faster pace and we plan to address this market with new Mitsubishi vehicles," the official said.

HM MD R Santhanam also stated that the firm has no plans to drive into the highly competitive small car market.

Meanwhile, the firm is also in the process of leasing out a part of its land in Uttarpara (West Bengal) to create an IT and auto component park. The firm has already appointed HDFC as a consultant for this real estate development exercise, for which regulatory clearances are being sought from the state government.

"HDFC will be managing the process for us and we are looking to release around 300 acres of the 740 acre land which we have," he said.