GM seems to be on a roll in India and has another 2 more product launches lined up for next month. With the launch of Chevrolet Sail U-VA hatch in the country GM is confident of selling 4,000 units per month.
GM’s President and Managing Director Lowell Paddock told reporters that the Chevrolet Sail U-VA hatch is an important product and it has hit the market at the right time. The hatchback segment is the fastest growing segment in India and has a lot of potential. Specially the B2 segment is all flooded with many models and almost all manufacturers trying their luck to snatch a pie out of it.
Vice –President P Balendran was of the view that high interest rates were one of the reasons for the sluggish market. He was hopeful that the market would improve in the coming months.
Last year GM sold 1, 11, 510 units nationwide compared to this year`s 78,100. GM says that the reason for the lower numbers this year is due to the discontinuation of three models.
Plans are being made to increase the capacity of Halol plant in Gujarat to 1.10 lakh units annually. Currently there is a capacity shortfall for which the company is expanding its production units. Chevrolet has a new MPV, Enjoy lined up for release based on its Shanghai Automotive Industries Corp (SAIC) platform and will be rolled out from its Halol plant.
The Sail notchback will also expected to be rolled out in a couple of months. GM is hopeful that interest rates would ease up next year and bring back the demand as 85% of vehicles sold in India are financed.
Source: Economic Times