Their products are extremely crude and outdated for the normal users. THe only selling point is toofan and minibus which has very less competition.
Also, with the whole industry slowing and with liquidity tightening the first to face the heat are the weaker players. There is a reason why Force Motors is still sub 5000cr company even with uvs, suv, lcv, buses tractors and engines manufacturing business.
On the other hand, with luxury car exports increasing from India, The increased demand for engines is a plus.
I wonder how tough it is extend the products into an consumer focused SUV only company like Jeep, Isuzu and Land Rover (Land Rover is a luxury brand though). I also recently read in the news that ISUZU’s stake was up for sale by Toyota and some other major investors.
To sum it up, Force motors is in a lucrative field with loads of opportunities, but they are not able to exploit them which is a big negative. But their quality control and excellence in engines business is the major lifeline. If they ever split the businesses, guess which business will go down like a rock?