General Motors targets 20 per cent growth in H2, 2008-09
17 October 2008
General Motors India hopes sales to grow by 20 per cent in the second half of the current fiscal, on the back of higher capacity at its new plant at Talegaon in Maharastra.
Company officials said sales grew by 10 per cent in the first half the current fiscal and now with additional capacity to produce more models the company should be able to grow at 20 per cent in the second half of the fiscal.
The company also said the troubles that it was facing in America would not impact its Indian operations.
According to Ankush Arora, vice president - marketing, sales, General Motors India, the ongoing financial turmoil in the US has not yet affected the company's plans in India.
The company has invested 200 million-dollars to set up an engine and transmission facility at Talegaon in Maharashtra which can produce 1.6 lakh units in the first phase. It also inaugurated its 300 million-dollar small car plant, which has a capacity to produce 1.4 lakh units a year.
Arora said that till now the production capacity of Spark was a major constraint in ramping up sales. Now with the new plant he said the company will be able to produce 4,000 units of Spark which will help it to increase sales.
Over the past two years General Motors India has registered impressive sales growth. The company posted a record growth of 51 per cent in sales in March 2008, as compared to the corresponding period of last year. The company sold 6,836 units in March 2008 against 4,542 units in March 2006-07, making this the highest-ever monthly sales figure achieved by GM India. In 2007-08 the company sold 1,820 units of the Chevrolet Tavera, 1,589 units of the Chevrolet Aveo, 710 units of the Chevrolet Optra, 2,397 units of the Chevrolet Spark and 320 units of the Chevrolet Captiva.