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Tuesday, 12 February 2013

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Sathosa Motors sole dealer of Land, Range Rover

Sathosa Motors PLC (SMOT) announced to the Colombo Stock Exchange (CSE) that they are taking on the sole rights to sell, distribute and service the Land Rover and Range Rover vehicles in Sri Lanka.

The exclusive distributor for Land Rover in Sri Lanka will be SML Frontier Automotive (Pvt.) Ltd. which is a joint venture between Sathosa Motors PLC. and Sheran Fernando.

The investment by Sathosa Motors PLC is in line with the company’s strategic view of creating a pool of world-renowned brands under the umbrella of the Access Engineering Group. At present Sathosa Motors PLC (SMOT) has the exclusive right to the world-renowned ‘Isuzu’ commercial vehicles in Sri Lanka and obtaining this dealership is a part of the series of steps taken to realize synergies & revitalize its operations. Access Engineering PLC (AEL) owns 84.31% of Sathosa Motors PLC.

Through the relationship with Land Rover, Sathosa Motors gains entry into the premium segment of the automotive sector having already established its footprint in the commercial vehicle segment. Land Rover/Range Rover is one of the most sought after prestigious brands in the world and has been one of the top three European luxury automobile brands in Sri Lanka during the last 5 years.

In addition to the luxury automotive sector, another market segment that Land Rover dominates is the military where it has been a partner for the past 50 years and has done yeoman service. It remains ‘the vehicle of choice’ within the Sri Lankan military. The strength of Sathosa Motors behind Land Rover will enable the brand to expand in Sri Lanka.

Sathosa Motors looks forward to begin operations of their new Joint Venture by April 2013 to coincide with the launch of the all new Range Rover in Sri Lanka– a vehicle that takes the brand ‘Above and Beyond’, in every sense of the word.

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