Financial Daily from THE HINDU group of publications
Tuesday, Mar 28, 2006
Financial Daily from THE HINDU group of publications Tuesday, Mar 28, 2006 |
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Corporate
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Outlook `GM to roll out `mini-car' soon' Our Bureau
Kochi , March 27 General Motors India will soon roll out a `mini-car' in the country to offer competition to Santro, Alto and Indica belonging to other companies, according to Mr P.Balendran, Vice-President (Corporate Affairs). "We are working on the project and the intention is to garner a 10 per cent market share by selling about 2 lakh vehicles a year", he said at a press conference organised in connection with the launch of Chevrolet Aveo in the Kerala market here. However, he did not specify the exact date for the launch and said that it would definitely come. The company is committed to launch a mini-car, which is competitively priced. He also declined to give any hint on the price of the car. The Aveo is the first of the three new Chevrolet products debuting in the first six months of 2006. The Aveo U-VA and Optra SRV will join it in the coming months as part of the largest expansion of GM India's vehicle line up, he said.
Capacity expansion
Prior to introducing the new models, he said the capacity at the manufacturing plan at Halol near Baroda would be enhanced to 85,000 units this year from the present 65,000 units by making an additional investment of Rs100 crore.
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