GM India announces ambitious plans for products and sales
27 Jan 2011
New Delhi: Making a slew of major announcements, General Motors India said it expects to triple its sales in this country to 300,000 units over the next two years and launch four new cars and two commercial vehicles in what is now one of the fastest growing auto markets in the world. It also said it would likely source $1 billion worth of auto parts from the country over two years.
"Things were good when looked through the rear window, things will be even better when we look through the front in 2011," Karl Slym, president of GM India, said at a press conference.
GM sold 110, 804 vehicles in India last year. It has a mere 5 per cent market share in the country, which is dominated by Japanese small car giant Suzuki, which operates in India through the brand name Maruti Suzuki.
Along with its plans for the future, GM also launched its new, locally developed, state-of-the-art SMARTECH engine at a ceremony presided over by General Motors International Operations president, Tim Lee.
The 1.2-litre SMARTECH engine was created by the GM Technical Centre-India in Bangalore in cooperation with GM's new engine plant in Talegaon. It will be produced at the Talegaon facility for a range of new models offered by GM in India.
GM's plans to source $1 billion worth of auto parts from India over the next two years, reflects the growing trend of sourcing from India's $26 billion auto component industry, as rising cost pressures in home markets make products from India a cheaper option.