With a price tag of Rs 3.44 to 3.99 lakh at showrooms in New Delhi, the Chevrolet Spark limited edition directly competes with Hyundai Eon, Nissan Datson Go and Maruti Suzuki Alto K10 in the domestic market.
Auto analysts said Spark is facing stiff competition from new product launches in the Rs 3 to Rs 4 lakh range in the domestic market.
Spark, first launched in April 2007, went on to become popular model and underwent a facelift in October 2012. The sales of the model, available in five variants in petrol and LPG version, which averaged 500 units last year, fell to 260 units in January 2014.
Analysts said auto mart in the country has been experiencing sluggishness for over two years in a row due to high interest rates, poor income growth and high fuel prices.
“The limited edition model of Spark, which is stylish, frugal and spacious city car with superior SMARTECH engine technology, will appeals to all aspirational first-time buyers and young nuclear families across India,” Arvind Saxena, president and managing director of General Motors India, said.
It has an appealing exterior and enriched interior, and provides a superior value proposition, he said.
The Spark limited edition has added a steering wheel cover, matching neck rests, ambient foot-well lighting, beige seat covers with red stripes, an exterior chrome kit, carpet floor mats, outside rearview mirrors (OSRVM) with integrated turn signals, side body graphics in a choice of two colors and limited edition badging.
The five-seater comes in seven vibrant colors such as summit white, sandrift grey, misty lake metallic, switchblade silver, velvet red, linen beige and caviar black.
The city car’s four-cylinder 1.0-litre petrol engine delivers peak power of 63 PS @ 5,400 rpm and peak torque of 90.3 Nm @ 4,200 rpm. Power and torque are maximized at lower speeds, making the Spark limited edition ideal for commuting both in congested cities and on open highways.
Sales at General Motors India fell 43 per cent at 4,865 cars in May 2014 against 8,500 units sold in the corresponding period last year. These include 1,716 units of Beat, 1,076 units of Tavera and 934 units of Chevrolet Enjoy.
“The automobile industry has been passing through challenging times for the past two years as the general economic and consumer sentiments have failed to pick up,” P. Balendran, vice president at General Motors India, said.
He hoped to see some improvement in the market in the coming months with a new decisive government in place.
“In the passenger car segment, macro headwinds such as high interest rates, poor income growth and high fuel prices continue to hurt the consumer sentiment,” the Mumbai-based brokerage firm India Infoline Research said in a note.