General Motors India on Thursday unveiled its new mid-size sedan Opel Vectra in the premium car segment with ex-showroom price of Rs 15.99 lakh (Rs 1.59 million) in Delhi and Rs 16.9 lakh (Rs 1.69 million) in Mumbai.
The car is pitted against Ford's Mondeo, Toyota's Camry and Honda's Accord. The company expects to sell 1,000 units this year, president and managing director Aditya Vij told reporters in Mumbai.
He said India has been identified as one of the key growth markets and the company was in the process of widening its product portfolio by introducing three to four more models this year.
Marketing vice-president Vinay Dixit said the company was looking at both premium and other segment models for launch.
The company's plant at Halol in Gujarat presently has a capacity of 12,000 units per annum which could be doubled with the introduction of a second shift, he said.
The Opel models recorded sales of 8,600 units in 2002 compared with 2000 units in 2001. This year the company expects the sales to touch around 12,000 units.
Dixit said the car would be available at 18 select dealers from Friday and later at other parts of the country.
The price of the vehicle in Tamil Nadu is Rs 17.85 lakh (Rs 1.78 million), Gujarat Rs 16.95 lakh (Rs 1.69 million), Karnataka Rs 16.54 lakh (Rs 1.65 million) and Uttar Pradesh Rs 16.29 lakh (Rs 1.62 million).