Commercial vehicle maker SML Isuzu on Thursday said it expects revenues to grow 10 per cent in 2014-15 as it expands its product portfolio and forays into the 10-12 tonne gross vehicle weight (GVW) category.
"We have about 16 per cent share of the 5-10 per cent GVW category and now we are expanding to the 10-12 tonne category. With this, we want to increase our market share further. We are looking at 10 per cent increase in our revenues in 2014-15," SML Isuzu Senior Vice President Marketing K B Prasad said.
The company expects to close FY'14 with Rs 1,100 crore in revenue, he added.
Terming year 2013 as one of the worst years for the Indian commercial vehicle industry, SML Isuzu said the situation may change towards the second half of the year.
"2013 was one of the worst periods for the CV industry. Unlike the passenger car market, the CV industry is dependent on how the economy performs. The economy is not doing well and so, the industry also reeling under slowdown," he said.
Prasad said most categories in the CV segment have declined, but the fall has been slower in the 5-10 tonne category. The buses segment has remained stable.
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