Asia Motor Works (AMW), the Bhuj-based truck maker, would launch seven new models in the heavy commercial segment this year, increasing its product portfolio to 21 units. The company which tries to make inroads into the duopoly of Tata Motors and Ashok Leyland has gained 5% in the heavy truck segment with its products in the 25-49 tonne range.
AMW recently rolled outs 20,000th truck from its Bhuj plant. "We will launch two products in the 16-tonne truck," said Anirudh Bhuwalka, managing director and CEO, AMW.
The company is broad-basing its product portfolio in an effort to enhance its market presence.
Bhuwalka said that to focus on the heavy truck business, the company will go slow on its light commercial vehicle and bus projects.
"We want to focus on the segment where we have proved our strength. We now have 25% market share in mining and construction sector," he said.
With the truck business showing steady growth the company hopes to achieve Rs 1,800 crore turnover, almost 80% growth over its last year's performance. The sales grew 100% in the first quarter to 1,940 units and the company expects to clock 3000, units this quarter, maintaining the same pace in sales.