INDIA: Ashok Leyland to roll out luxury buses
Business Line (The Hindu) reports that heavy duty CV manufacturer Ashok Leyland plans to introduce more than twenty new products in the current year, including a range of luxury buses and heavy-duty trucks.
According to Mr R. Seshasayee, Managing Director, Ashok Leyland, two new luxury buses under the `InterCentury' brand will be launched by the third quarter of the current fiscal year. The luxury buses will be launched through the company's joint venture firm Irizar TVS. "We will be launching two variants of the buses, priced much below similar offerings from competitors ," he said.
The company also plans to introduce a new range of `Newgen' heavy trucks by March 2006 to cater to the growing demand for such vehicles in India.
Ashok Leyland is investing around Rs 200-250 crore to raise its capacity to 100,000 units in the next couple of years, from 63,000 units at the end of the last fiscal year.