Financial Daily from THE HINDU group of publications Tuesday, Mar 16, 2004 |
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Corporate
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Outlook GM upbeat on Tavera prospects Our Bureau
New Delhi , March 15 GENERAL Motors India's new multi-utility vehicle (MUV) the Chevrolet Tavera, which will be launched in the second quarter of 2004, would be competing with the likes of the Mahindra Scorpio and Toyota Qualis. According to a company statement, the Tavera, a spacious `Family Car' can comfortably seat 10 people and sports an elegant, stylish and contemporary design. The company is confident that its MUV would do well as it has received "excellent" consumer feedback at internal researches that "more and more people are viewing the MUV segment as an alternative to a car and Chevrolet Tavera stands as the right choice." The Tavera will have 92 per cent local content and is expected to be priced at less than Rs 6 lakh. The MUV segment in India has boomed with sales touching 83,000 units in 2003, a whopping 47 per cent growth over 2002. The sales are expected to touch nearly 100,000 units this year. The new Chevrolet MUV will be powered by diesel engine technology from Isuzu, and would offer 20 per cent more fuel efficiency than some of the other players in the segment, the statement said. The engine is being developed at Hindustan Motor's Pithampur plant. Besides the new MUV, the company said that it plans to launch a range of vehicles specifically designed for the Indian market under the umbrella of the Chevrolet brand.
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