Though nothing is yet confirmed, but the buzz doing the rounds is that General Motors is planning to launch the hatchback version of Chevrolet Sail in India very soon.

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Sail is expected to come with brand new body fittings, however, there will be no change in the 'Chevrolet' badge.

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The new hatchback will likely be powered with either 1.2 litre or 1.4 litre petrol engine.

The diesel version might not be released, but looking at the steep petrol prices, GM India may eventually change its mind.

If Chevrolet Sail diesel variant comes to India then it could sport 1.3 litre diesel engine that are there in Fiat.

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Developed in China, the small car will head to other emerging markets, including India.

So what will be the price of this new hatchback?

While General Motors remain tight-lipped, speculation is rife that it will undercut rivals like Maruti Swift.

Pricing, say sources, will be Sail's highest USP as far as the Indian market is concerned.

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Chevrolet Sail will most likely replace Chevrolet Aveo.

Aveo,which, received average reviews managed mediocre success in India's hatchback segment.

Both Aveo and U-VA failed to rake in good numbers for GM.

The company hopes to write a success story with Sail, which is expected to notch up good volumes.

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Sail, it seems, has been particularly developed for the Indian consumers and is best suited for the topographical conditions of the country.

In the global car market, Sail is available in both 1.4 litre S-TEC III and 1.2 litre of S-TEC II petrol engine.

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The 1.2 litre petrol engine variant is likely to come to India, as small cars in India are known to carry 1.2 litre engines in their petite bonnet.

If the diesel version of Chevrolet Sail hatchback does come to India, it will face fierce competition from Nissan Micra, Ford Figo, Maruti Swift and Hyundai i20.

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Sail, with a bigger diesel engine than the Beat and more space should attract more buyers.

The engine will be intelligently mated with five speed manual gearbox.

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Sail will be pretty spacious and relatively bigger than Chevrolet Beat.

As far as external features are concerned, sail will certainly be a head turner.

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The traditional horizontal split grille of Chevrolet will give a very attractive look to the car and the interiors will definitely be stylish and comfortable.

The car will come with double digital screen that will ease the driving experience.

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Furthermore, the storage capacity is one arena where new Chevrolet Sail hatchback will win hearts as there are 24 storage compartments in the small hatchback rendering absolute comfort during long journeys.

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Chevrolet Sail is likely to debut in the Auto Expo 2012 in January next year in New Delhi.

It would be really exciting to see how Chevrolet Sail hatchback will compete in the Indian market with the big players.

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Sources also pointed out that GM is planning to launch a sedan in India.

The sedan, whenever launched, will face tough competition from big daddies of the Indian car market such as Maruti Swift Dzire and Tata Manza.