GM India postpones 10-per cent market share deadline to 2011
24 August 2009
General Motors India (GMI), the Indian arm of US auto maker General Motors (GM), has rescheduled its marketing target deadline for 2010 and pushed it a year ahead to 2011.
The Indian arm of the struggling US automaker, GM, had fixed 2010 as a deadline to achieve a 10-per cent market share in India. The economic downturn has forced it to abandon the plan and look at 2011 as the likely year for the same.
Karl Slym, General Motors India, president and managing director, said that though it had re-scheduled the market share deadline, it was looking for a 10-per cent growth in car sales this year over last year's figures. Last year, GM India sold 65,702 vehicles. This year, till July, the company has sold around 30,000 vehicles.
Slym said that GM's new brand LPG Spark had sold 600 units, and the company was planning to introduce its model Cruze in diesel version in October, and a petrol version next year, and a mini-car this year.
The change in deadlines is not a setback, Slym said, adding that the economy had shown signs of recovery. GM is likely to launch four new models by next year.
Among some of its most selling models is Chevrolet Spark, and the company is expected to sell around 40,000 units this year.