GM bets big on exports from India

General Motors India, which has two plants with a combined capacity of 2.82 lakh units per annum, is betting big on export of cars from the country.

The company would start export of cars late this year. "Export out of India is an attractive proposition. India has a skilled workforce, strong supplier base and strong engineering skills," president and MD of GM India Lowell Paddock said.

"The countries earmarked for exports are yet to be firmed up," he told reporters here last night.

Paddock said GM has a plant in South Korea, which functions as an export hub.

So far, GM India had been selling cars to Nepal and Bangladesh in a limited way.

Besides exports, the company is also willing to have a strong domestic presence.

"We want to have a strong domestic market. To have that, there is a need to increase the level of localisation. As dependence on imports will make us vulnerable to foreign exchange fluctuations," Paddock said.

Amid downturn in the automotive sector, GM India's sales in 2013 showed a de-growth of 6 per cent at 86,000 units.

Paddock said the cut in excise duty as announced in the interim budget would stimulate the industry.

He said GM India had refreshed its entire portfolio last year with the launch of SAIL hatchback, SAIL sedan and Enjoy MPV.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • India and the US have come a long way from the frostiness of the Cold War

    As far as atmospherics go, it could scarcely be bettered.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

When we the people fail our nation

Today, we turn 65 years old as a republic. A ...

Purnendu Ghosh

The relative measures of time

Clock, the time-keeper, is our central machine. This machine dictates ...

Shona Adhikari

All roads lead to Delhi, as it gears up for art fair

With the seventh edition of India Art Fair (IAF) coming ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture