Further strengthening its position in the lCV segment Hinduja Group flagship Ashok leyland on Monday launched a multi purpose vehicle (MPV) ‘Stile’, with price starting at Rs7.49 lakh to Rs9.29 lakh (ex-showroom Delhi).
“We are extremely confident about the new product. With the launch of Stile second chapter of growth for Ashok leyland’s light commercial vehicle business has begun,” Ashok leyland Vice Chairman V Sumantran told reporters here.
Stile will compete with the likes of Maruti Suzuki’s Ertiga, Innova from Toyota and Xylo from Mahindra & Mahindra.
The passenger carrier vehicle has been developed by Ashok leyland-Nissan Motor Company joint venture and follows the light commercial vehicle Dost as the JV’s second offering in the segment.
“The third product from the joint venture in the lCV vertical, Partner, would be launched in the next calender year,” Sumantran added.
When asked about the company’s investment on the lCV segment, which the company launched four years ago, Sumantran said: “For the first phase of lCV journey, which includes three products--Dost, Stile and Partner, the accumulative investment was in the tune of Rs 1,200 crore.”
Stile, which comes with a diesel engine, will be sold through 130 outlets across the country. The company is also in the process of expanding its sales and service network across the country in the next few months.