Financial Daily from THE HINDU group of publications
Monday, Oct 31, 2005
Financial Daily from THE HINDU group of publications Monday, Oct 31, 2005 |
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Corporate
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Announcements GM to hike prices of Tavera, Optra Our Bureau
New Delhi , Oct. 30 GENERAL Motors India has said it would be hiking the price of its multi-purpose vehicle `Tavera' and premium sedan `Optra' by 1-2 per cent and would be investing Rs 100 crore to hike capacity at its Halol plant to 80,000 units. "There has been pressure on margins due to which we will be hiking the prices of `Tavera' and `Optra' by 1-2 per cent in a few weeks,'' the General Motors India, President and Managing Director, Mr Rajeev Chaba, said at the sidelines of a CII conference. Mr Chaba said the company would also hike the capacity at its plant in Gujarat from the current level of 60,000 units to 80,000 units. "The expansion will be completed by next year and we will be investing Rs 100 crore for this. This will take our overall investments in India to Rs 1,400 crore," he said. Mr Chaba also said that the company is planning to launch two to three new models in India in 2006 and added that plans were afoot to bring in a small car.
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