Financial Daily from THE HINDU group of publications
Wednesday, Dec 17, 2003
Financial Daily from THE HINDU group of publications Wednesday, Dec 17, 2003 |
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Corporate
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Outlook GM looks to double sales in 2004 Our Bureau
Mr Aditya Vij, President and MD, General Motors India Ltd, at the launch of Chevrolet Optra 1.6 in the Capital on Tuesday. - - Kamal Narang
New Delhi , Dec. 16 WITH new launches lined up for the next year and targeting higher sales of its existing models, General Motors India is looking to double its sales to about 30,000 units in 2004. According to sources, the company will be rolling out its multi-utility vehicle, the Chevrolet Tavera (based on the Isuzu Panther) and the Chevrolet Spark (which is based on the erstwhile Daewoo Matiz) in the next calendar year. General Motors had earlier this month rolled out the Chevrolet Spark in China. Industry sources point out that the car in India could carry similar specifications as the one that has been launched in China, but a higher capacity 1.0-litre engine may be utilised for the Indian market. The Chevrolet Spark launched in China is fitted with an 800-cc engine. However, it could not be ascertained whether General Motors would make use of the Daewoo facility in India to manufacture the vehicle here. Meanwhile, Mr Jay Cooney, Director (Media Relations), General Motors Asia Pacific, today said that India was one of the "critical" markets for the company and new models would be continuously introduced to increase its presence in the domestic market. In a bid to improve its market share, General Motors India had launched four new models in 2003, out of which the Chevrolet Optra particularly has received an encouraging response. The Optra, which is positioned in the C-segment of the market, has sold 4,000 units till now. Meanwhile, the company today announced the roll-out of a new 1.6-litre variant of the Optra. The Optra was previously available only with a 1.8-litre engine. "The base version of the 1.6-litre Optra has been priced at Rs 7.29 lakh while the luxury `LS' model would cost Rs 7.89 lakh (ex-showroom, Delhi)," Mr Aditya Vij, President, General Motors India, said while addressing a press conference on Tuesday. The new 1.6-litre engine is being imported from GM-DAT in Korea, while the 1.8-litre is sourced from Holden, Australia. "We expect the new car to boost our marketshare in the overall mid-size segment to 30-35 per cent next year," Mr Amit Dutta, Vice-President (Marketing), General Motors India, said. Meanwhile, company officials denied that there was any move by GM to pick up stake in Hindustan Motors and termed the recent reports as "baseless". General Motors India's portfolio includes the Opel Corsa, Opel Corsa Sail, Opel Vectra, Chevrolet Forester, and the Chevrolet Optra. The company intends to double the capacity at its factory in Halol (Gujarat) to 50,000 units in 2004.
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