Chennai, Sept 16: Hindustan Motors (HM) is planning to roll out a luxury version of Mitsubishi Lancer in a bid to tap the high-end market in the mid-car segment. The varient, which is likely to hit the roads around January 2000, will have additional features like VCD changer with a LCD display, alloy wheels, leather seats and a spoiler for an aerodynamic look.The luxury varient, in both diesel and petrol versions, is likely to be priced about a lakh more than the existing models which cost (ex-showroom Chennai) Rs 8.61 lakh (diesel) and Rs 7.59 lakh (petrol).
An HM official told The Financial Express that the company has had first round of discussion for such a model based on customer feedback, and added that a decision would be taken in the next couple of weeks.
Auto industry sources attribute the move by the company as an attempt to have a model in the upper end of the mid-size segment thereby offering a product to the `status conscious' customers. Its competitor General Motors has such arange for its Opel Astra model.
Lancer has been well received in the market with over 6,000 cars already on road. From end August the company has commenced production in the second shift to take care of increased demand especially on account of depreciation benefit that accrue to the customer if he buys in September. Production capacity in two shifts is about 1,450 cars per month.
HM, as a part of its marketing strategy, has also decided to introduce a new colour for Lancer every three months.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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