Eicher motors have been supplying some pretty amazing automobiles in the Indian market for a long time now. Back in 2012 Eicher motors collaborated with the US based Polaris Industries, who are engaged in making personal utility vehicles worldwide. So the Joint Venture was seen to be an interesting prospect in the Indian market. Together with Eicher motors, they launched the personal utility vehicle Multix into the Indian roads in 2015. But recently the news has been brought out that both the companies have decided to end the Joint Venture because of the poor sales of the Multix vehicle in the Indian market.
What Is The Story?
Eicher Polaris Private Limited has stated that the much awaited Multix vehicle which in the initial stages generated great interest in the market did not perform well. The company thought of influencing majorly the Rural market with the launch of this vehicle but failed to do so and have taken back a loss of Rs. 91.62 crores in the financial year of 2016-2017. Officials have said that the Multix was supposed to be a success during the time of its launch but the story turned out to be something else and therefore the company, for its benefit has given immediate order to stop the production and sale of Multix vehicle. However, the company has said that it will give service and support to the existing Multix running on the Indian roads.
Details About Multix
The Multix is an interesting personal utility vehicle launched by Eicher Polaris Private Limited in 2015. The vehicle was specifically made for the Rural UV market but failed to do so. The Multix is a five-seater vehicle along with luggage space of almost 1918 liters. It was powered by a 511cc diesel engine which was successfully developed by Greaves Cotton and was equipped with a 3KW power-take-off port known as the X-Port and could be effectively used to power the lights, pumps, etc. The company also launched a BS-IV-compliant version in 2016 which did not turn to be a hit as well. The Multix was priced at Rs 3.43 lakhs ex-showroom and gave an efficient fuel mileage of 27kmpl.
In spite of the efficient and budget-friendly features the Multix failed to dominate the Indian markets, and therefore Eicher Polaris Private Limited has taken back the vehicle for the benefit of the company, and its profits.