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Poor Lancer Sales at Hindustan Motors
July 11, 2004. Mitsubishi Lancer sales, priced at Rs 8 lakhs, have stagnated around 350 to 400 cars a month, for Hindustan Motors (HM), owned by the C K Birla group. It is threatening the viability of its Chennai plant set up at a cost of 250 crore rupees, which manufactures Lancer cars under a technical license from Mitsubishi Motors japan.
HM seems to be in talks with Mitsubishi Motors for introducing newer models either in Rs 6 - Rs 6.5 lakh or above Rs 10 lakh segment. A decision is expected in about 3 months.