Meru Cab Co to buy 3,000 new cars next fiscal

Meru Cab Co is planning to buy as many as 3000 new passenger cars in Financial Year 2014-15. India’s leading radio cab service provider, along with its associates (Genie cabs, Meru Plus and others), will be buying premium hatchbanks and mid-sized sedans via institutional purchases across OEMs such as Hyundai Motor India, Tata Motors, Maruti Suzuki India, Ford India and others.

Siddhartha Pahwa, group CEO, Genie & Meru Cabs said that the move comes as a part of their expansion plan. While Mumbai and Delhi will get CNG variants, the company will get diesel options for other cities. The company has recently bought 100 cars to exclusively launch their budget Genie cab service in Pune. The fleet mostly consists of Ford Figos and Tata Indicas (with Quadrajet engine).

While Pahwa did not disclose the finances earmarked for the massive buyout next fiscal, he did mention that an average cost of Rs 6 lakh per car can be safely assumed to calculate the total investment planned by the company.

Meru Cab Co, which has institutional tie-ups with several car OEMs, currently has a fleet of 7000 cars plying in various cities. The firm buys and operates mid-sized sedans and hatchbacks under the Meru and the Genie brands respectively.