Yesterday, Bankrupt General Motors, US auto giant listed India among the "very important" markets that will help to its comeback in market and said by 2010 with the sales of mini cars they expect to achieve a double digit share. General Motors will launch a number of models including a small car with a price of Rs. 4, 00, 000. 

General Motors will achieve a growth rate of 10 per cent this calendar year, keeping apart a fall in sales in the first five months of this year, informs company. 

General Motors India president and managing director Karl Slym said to the reporters on the sidelines of the launch of the LPG version of its small car, Chevrolet Spark, “The mini car will be in the upper end of the mini-car segment”. 

GM has invested around Rs1000 crore at its Talegaon plant near Pune in Maharashtra for the manufacture of engine transmissions and approximately Rs. 1500 crore for a car manufacturing facility, admired Slym. On the completion of its previous facility, localization will be increased across all its Chevrolet models by GM. 

GM has manufactured the small car on the platform of GM’s concept car Beat, will be developed exclusively at GM India's Talegaon facility for both domestic and international market servings. 

Slym said that, “As of now, the mini car will be manufactured in Korea and India. From India, we are also planning to export to the Asia Pacific region and European countries, which could start by 2010”. 

Slym also told that, “US, China and India are among the key markets for the new GM that has been formed after bankruptcy. While home market US is certainly the most important, China is equally important as it is big in numbers where we sold one million units. India is also a key as opportunities here are similar”. 

To nullify the side effects of the Bankruptcy news, the GM ahs started a series of new campaigns. After being on the hot seat in the News and media and internet, the company campaigns includes, "Chevrolet Confidence" where the company signs off with a "There for you, there for India" tagline, reiterating its commitment to the market in terms of investments, new model launches, and sales and service. 

GM India has sold 9.5 per cent more cars than the previous year which is 65, 702 cars and SUVs in India previous year. Slym expected a consistent growth rate for 2009 as well on the back of new model launches, despite of not-so-encouraging start to this year. Gm expects to achieve by 2010 a target of 10 per cent market share, which appears to be ambitious looking at 3.5 per cent share the previous calendar year. 

Spark and the U-VA in the segment are sold by the company currently, counting the major numbers in the sales. 

Slym said, “Apart from the new mini that would be available in both petrol and diesel options, we would also be launching the Cruze sedan here in the coming months. These models will add to our portfolio and help us strengthen our numbers”. 

He also said, “The powertrain plant remains on schedule for end 2010. Everything is on schedule and we are confident of getting the funds for it though a mix of various sources that includes internal accruals, financial institutions and GM Asia-Pacific”. He denied that the company was facing difficulty in getting funding for the company's engine plant. 

GM Asia Pacific President Nick Reilly earlier this week said, “In India most of the $200 million needed to complete a new engine factory and other projects had yet to be raised, but it was pursuing other sources of financing and expected no delays in the projects.”

Best Selling General Motors (Chevrolet) Cars:
Chevrolet Aveo (Sedan)
Chevrolet Optra (Sedan)
Chevrolet Tavera (SUV)
Chevrolet Captiva (SUV)
Chevrolet Spark (Hatchback)
Chevrolet UVA (Hatchback)
Chevrolet SRV (Hatchback)

Related News:
Penske Auto to buy GM’s Saturn Brand
GM India to launch a new Spark Variant
GM contemplates Rs 2 lakh mini car for India
GM at 78th International Motor Show in Geneva

Related Books:
The Savvy Guide to Buying Collector Cars at Auction
Origami on the Move: Cars, Trucks, Ships, Planes & More
Green Cars: Earth-Friendly Electric Vehicles 

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Posted by Naresh Koshti on 8 June, 2009 2:36:50 PM IST #