JCB India to focus on getting into new markets in India
Construction equipment maker JCB India will focus on expanding presence in new markets in the country this year as it sees sales to remain flat in a tough environment, a top company official said today.
"At present our focus will be to utilise our existing capacity. We will be looking for new markets within India for the various products that we have," JCB India Managing Director & CEO Vipin Sondhi said.
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The company that offers 21 different machines in seven product types, including backhoe loaders, loading shovels, tracked excavators and carry crane, had sold 27,000 units last year.
"This year going is to be, at best, a flat year," he said when asked about the sales prospects.
He cited the current overall economic environment, mainly slowdown in infrastructure projects as main challenges.
"So our aim is to sell the different types of products that we have in different markets within India where these have not been available," Sondhi said.
The firm has a network of 57 dealers with over 430 outlets throughout the country. Currently, it has three plants in India with a combined annual capacity of around 30,000 units.
It today launched a new backhoe loader "JCB 3DX" priced around Rs 20 lakh as part of plans to strengthen its position in the market.
"JCB plans to strengthen its share of the backhoe loader market in India and extend its reach even further to the developing rural markets," the company said.
The firm claimed the new product will be more fuel efficient by 20 per cent than the previous generation product and will also offer 20 per cent more cabin space for the operator.