Stewart Industrial aims to double truck sales in two years
Stewart Industrial pulled the wrappers off of a line of medium to heavy duty trucks on Wednesday night and is aiming to corner 35 per cent of the market in two years.
Managing Director James Lechler declared his intentions to Gleaner Business, saying those plans will be bolstered by the output of a US$1.5 billion FUSO plant recently opened in Chennai, India.
The FUSO trucks to be sold by Stewart extends the Mitsubishi line of vehicles represented by the Jamaican dealer in this market.
“We’ve made a commitment to FUSO to increase our sales dramatically in Jamaica. The value of the yen previously has been an asset to us in terms of retail price plus the economical pricing out of India and we’re now making a very strong move to be a leader in the truck industry in Jamaica,” Lechler said.
Three trucks were on show on the East Lawns of Hope Gardens on Wednesday night — a 9.6-ton Cab and Chassis FA priced at $6.1 million; the Box body FI at $9.6 million; and a 13-ton dump truck at $7.5 million.
Lechler indicated that he is aiming to take market share away from Toyota’s HINO sold by Toyota Jamaica, Ford represented by Kingston Industrial Garage, and ISUZU sold by Vehicles & Supplies.
Since 2010, Stewart Industrial has been concentrating on heavy duty equipment suitable for mining, freight haulage and heavy lifting. This left their 22 Bell Road facility with spare capacity. Lechler feels he now has the goods to stake a claim on new business.
“Combined with the other brands, we represent which are Mercedes Benz, Commercial and Freightliner we can now offer trucks from light duty right through to heavy duty in any body application you want,” the Lechler said.
In the same vein as other divisions of the Stewart Automotive Group, Stewart Industrial is also offering financing for truck acquisition through Simpson Finance. With a 20 per cent deposit, truck buyers can get financing for up to seven years at 10.99 per cent per annum. Blair says they are also prepared ‘to work with existing clients’ to cater to their needs.
The FUSO line of trucks comes with a 3.9 litre diesel engine. The FA and FI trucks deliver 140 horse power and 420 Newton/metre of torque, while the FJ dump truck series punch out 170 hp with 520 nm of torque.