General Motors India on Monday launched a new premium mid-size car - Chevrolet Optra - as part of the aggressive plans to grow its sales over five-fold to about 50,000 units in the next three years.
Led by strong growth in its luxury sedan Chevrolet Optra, auto major General Motors India on Tuesday reported a 123.5 per cent growth in car sales in June 2004 to 2,418 units from 1,082 units in the same month last year.
The company said it will inspect and if necessary, replace the clutch pedal lever.
Hyundai Motor India expects SUV sales to account for 65 per cent of its overall volumes in 2024, while it gears up to enter the EV segment early next year, aiming to garner 20 per cent of its total sales by 2030, its COO Tarun Garg said on Tuesday. The automaker, which got around 60 per cent of its overall volumes from sports utility vehicle (SUV) sales last year, plans to invest Rs 7,000 crore on its second plant at Talegaon, according to Maharashtra Deputy Chief Minister Devendra Fadnavis. The company officials however declined to comment on the matter.
Corporate India is starting to step up its capital expenditure plans amid government incentives and signs of rising demand, company executives and analysts have indicated. This coincides with the Reserve Bank of India (RBI) recently citing a double-digit growth in private capital expenditure. Healthy balance sheets of banks and corporates, along with increasing capacity utilisation and improving business sentiment, are contributing to a favourable environment for sustained growth in private sector investments, the RBI said in its policy last week.
The updated version has new automatic transmission and better mileage.
The refreshed version comes with various features.
In spite of straddling the market with multiple competitively priced models, GM was pushed to the fringes by the rivals from Japan and Korea.
GM cites global pandemic as reason for the step. Firm had stopped selling cars in India in 2017 and stopped production completely on December 24, 2020.
GM India launches updated version of Captiva at Rs 27.36 lakh.
The prices of the company's vehicles start at Rs 2,85,000 for Spark and go up to Rs 24.6 lakh or Rs 2.46 million (ex-showroom Delhi) for the Captiva.
General Motors India on Friday said it will hike the prices of its entire range of models by up to Rs 20,000 with effect from October 8 as it looks to minimise the impact of adverse currency movement and high input costs.
General Motors India on Thursday posted 4.32 per cent decline in sales at 8,901 units in February. The company had sold 9,303 units in the same month of 2010, General Motors India said in a statement.
Hit by the depreciating rupee, auto companies, including General Motors India and Toyota Kirloskar Motor, are mulling hike in prices to offset the rising cost of component imports.
General Motors India is looking to enhance its range of diesel-driven cars as demand for the variant increases due to the price difference with petrol.
"Beat with a one-litre diesel engine will also be coming in June this year," General Motors India Vice-President P Balendran said after unveiling the LPG variant of the compact car here.
Talking to reporters after the launch of 'SMARTECH' engine, General Motors India president and managing director Karl Slym said diesel version of the vechile was also be out later this year.
The offer would help enable General Motors India to increase sales of its all models including the recently launched Chevrolet Beat.
In 2015, the auto major had announced that it would cease production at the plant, a move that affected around 1,100 employees.
General Motors India would roll out its BS IV version of Sports Utility vehicle Tavera in the country by next year, a top company official said on Tuesday
General Motors India on Friday said it will double production from its Talegaon facility from March onwards, four months ahead of schedule, to meet increased demand in the market, and will also hire 800 people in the next seven to eight months.
The company currently sells various vehicle brands in the country ranging from hatchback Spark to sports utility vehicle Captiva, priced between Rs 333,000 and Rs 25.71 lakh (Rs 2.57 million), respectivley, (ex-showroom Delhi).
The Chevrolet Aveo is available in the Indian market with a starting price of Rs 597,000.
It said the auto major has 'admitted' to certain 'lacunae' on its part in maintaining certain standards in the report submitted to the Road Ministry by a three-member panel.
The mini car is likely to be based on the auto maker's Beat concept, showcased at the New York Auto Show two years ago. It would offer the option of diesel or petrol engines and will be the third small car in GM's offering in the country after Spark and Aveo U-VA. India would be the company's export hub for the mini car, said Karl Slym, president and managing director, General Motors India.
The car is powered by a 1-litre petrol engine.
R Balendran, director and vice-president, corporate affairs, General Motors India, said on Wednesday that the company might bring in the SUV as either a completely built unit or a completely knocked down unit.
General Motors India on Monday launched a new variant of Chevrolet Tavera priced at Rs 599,000.
Auto major General Motors India is harbouring definite plans to launch a mini car that would be competitively priced and would aim to get a market share of 10 per cent, a top official of the company said on Saturday.
General Motors India on Wednesday launched three new cars in the Indian markets
General Motors India on Tuesday introduced a new version of its multi-utility vehicle Chevrolet Tavera, the Elite range even as the company prepares to rev up capacity at its Halol plant to meet rising demands.
General Motors India on Friday said it would be hiking the price of its multi-purpose vehicle 'Tavera' and premium sedan 'Optra' by 1-2 per cent and will invest Rs 100 crore (Rs 1 billion) to hike the capacity at its Halol plant to 80,000 units.
The phenomenal success of Xcent, Grand and Santa Fe increased volumes creating positive momentum
Senior officials with the multinational car manufacturer say there is a need to improve the brand perception and are revising an earlier after-sales package to spruce it up.
General Motors India said on Thursday that it would raise prices in January to meet rising input costs and new emission norms coming into force from 2005.
General Motors India is in talks with the creditors Daewoo Motors India to acquire the car assembly unit of the failed carmaker and has set a timeframe to clinch the deal.
Fuel price hike will impact demand going forward.
Auto makers Tata Motors and General Motors India on Monday announced they will cut prices of their products after Finance Minister P Chidambaram decided to reduce excise on automobiles in the interim Budget 2014-15.
Karl Slym was affable, gregarious and always motivated. Even in moments of crisis, Slym's sense of humour remained intact.
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