Tata Hitachi Construction Machinery Company, on Thursday, rolled out a new high-end hydraulic excavator that the company believes, despite the sluggish economic environment, will be attractive for premium contractors and buyers that value total cost of ownership over initial investment.
The construction firm, which is a 40:60 joint venture between Tata Motors and Hitachi Construction Machinery, also plans on exporting the Zaxis 220 LC – GI series excavator to both the Middle East and Africa.
“We are also waiting for the market to revive. With the new Government and new infra projects coming in…. we expect premium contractors to come back into the field [and show interest],” said A Krishnakumar, Senior General Manager – Sales and Marketing, while addressing reporters here on Thursday.
“We also do have a more economic model, which is constantly updated for our customers,” he added.
The new product, which costs Rs. 50-52 lakh, falls under the company’s Zaxis series of excavators, which is the more premium range that stresses on greater technology, power and fuel efficiency.“This year we predict that we will have more or less flattish growth… around 3 to 5 per cent perhaps. After that it should start picking up… we currently have around 37 per cent market share in hydraulic excavators. [We believe that] nobody can take away from India its long-term growth story,” said Rana Sinha, Managing Director, Tata Hitachi.