Mitsubishi to launch one model every six months

Japanese automobile company Mitsubishi Motors Corporation will launch one new model in the country every six months.

This is in line with the company's strategy to increase its product portfolio through the launch of sports utility vehicles (SUVs) and cars in coming years.

The company will launch the Outlander SUV, which will be manufactured in India, before the end of this year. The company will manufacture Outlander through its Indian joint venture Hindustan Motors (HM), C K Birla Group.

The Indian JV currently manufactures the Lancer range of sedans, sells Pajero, a premium segment sedan and imports the completely built unit of Montero.

The company had earlier considered the option of importing Outlander as a fully-built unit for the Indian market. Outlander is currently sold in other markets at $29,000-$30,000 (Rs 12 lakh).

Y V S Vijay Kumar, V-P and business head, Chennai car plant, Hindustan Motors, said, "The company has witnessed 40 per cent year-on-year growth in volumes."

We have charted out an aggressive growth plan for the Indian market."

The company hopes to treble its sales to 10,000 units over the next two years. It is also planning to enter the premium small car segment in four-five years.

However, this does not include sales of HM's own offerings, Ambassador, Trekker, Porter and Pushpak range of multi-utility vehicles.