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Mercedes targets $ 30 million export turnover

Mercedes-Benz India Limited has targeted an export turnover of over $ 30 million for the 1999-2000 fiscal.

A major chunk of this would be achieved by exporting components from the Indian subsidiary, MBIL managing director and CEO Till Becker de Freitas said.

''A small percentage would be from exports of Completely Built Units of the E-class," he said. The share of CBUs in the export basket would be reduced to zero by next year.

In 1997, MBIL had exported close to 2,000 E-class cars from India and the number was brought down to around 650 units in 1998. ''This year, it would be brought down further and we are looking at totally chalking off CBUs from the export list and substitute the entire lot with components,'' de Freitas said.

''It makes more sense... It simply does not make sense to produce the cars in our range here and export them. These cars are produced for the Indian market and they should remain here.''

This will also form part of the major restructuring which the German luxury car-makers is undertaking in its Indian operations to make it more efficient.

Daimler-Chrysler, he said, has, for the present, decided not to hike stake in MBIL beyond the present holding of 86 per cent. The company is also not in favour of selling off the ten per cent stake it holds in Telco.

UNI

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