Luxury carmaker DaimlerChrysler India on Tuesday launched a variant of 'E Class' and said it plans to wipe out its accumulated Rs 280 crore (Rs 2,800 million) loss in the next 3-5 years while profits would remain almost flat at Rs 34 crore (Rs 340 million) this year on a sales turnover of Rs 500 crore (Rs 5,000 million).
The new car E 270 CDI has been priced at Rs 38.45 lakh (Rs 3.84 million) [ex-showroom, Delhi], DaimlerChrysler India Managing Director and CEO Hans-Michael Huber told a news conference in New Delhi.
The company, which aims to post a sales growth of 20 per cent in 2004 over 1,581 units sold last year, will take a call on the launch of truck and Jeep models by December this year.
During Januray-April 2004, the company has sold 271 units.
"We have brought the Jeep models to India. Dealers have liked it. Once the feasibility study for the Jeep model and Actros buses are out we will take a decision on both -- Jeep and buses -- this year itself. Once we launch trucks, we will decide on launching buses," Suhas Kadlaskar, head (corporate affairs and finance), DaimlerChrysler, said.
The company reported a 12.8 per cent dip in profits at Rs 34 crore in 2003 over Rs 39 crore (Rs 390 million) during 2002 which was attributed to the rise in euro.
Asked why profits would remain almost the same even as sales were projected to grow, Kadlaskar said: "That is because of the hardening euro. Last year was bad, it is improving now."
The 'D Class' and 'C Class' have been 50 per cent indigenised, Huber said.