RELATED ARTICLES |
The US automaker has 20 per cent market share in Brazil, 13 per cent in China where it is the top automaker, and nine per cent in Russia. “Our 14-year-old journey in India has been very spotty, but you can tell from our behaviour in the last 36 months that this market is very important to General Motors. We intend to grow day by day and build a profitable, sustainable business model,” GM’s president, international operations, Tim Lee said here on Thursday.
“In 1990s we chose to partner SAIC in China and the partnership has proved to be outstanding and what better way of entering 35-40 per cent of the automobile market in India by way of commercial vehicles with SAIC. We also had our first (joint) board meeting in India last week to decide future strategies,” said Lee, who lives in China.
SAIC purchased 50 per cent stake in GM in February 2010. The firm’s light commercial vehicle from SAIC will hit Indian roads in the fourth quarter of this year.
It also plans to launch the Chevrolet Camaro sports coupe for enhancing “brand image” in India, Lee said without giving a timeframe. The Camaro retails at between $22,000 and $39,000 in the US. Adding the 110 per cent duty on imported cars, it may cost up to Rs 36 lakh. GM plans to sell 300,000 cars by 2013 and source $1 billion worth of auto parts from India during the next two years, Karl Slym, managing director of GM India, said. The firm plans to launch six new vehicles in the next two years.
GM India on Thursday also launched a 1.2-litre petrol engine for the Beat small car named Smartech. It will also introduce a diesel variant of the hatchback within the next two weeks.
 Limited.JPG)
Post new comment