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.
Automotive giant General Motors will make fresh investments in India to expand its Opel product line with a few models lined up for release this year.
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.
Maruti, Tata Motors and Ford Motor India have already made similar announcements.
General Motors India launched its new Chevrolet Sail U-Va car on Monday with a target to sell around 2000 cars monthly in Jaipur.
General Motors India on Thursday said its car sales surged by 162.8 per cent in January 2003 to 1,477 units over 562 units in the same month last year.
The recall will affect 2,910 units of the sedan version of Sail and 1,090 units of compact car variant of the model.
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The company will be increasing the prices of its compact car Beat, SAIL and multi-purpose vehicle Enjoy by 1.5 per cent, which translates to a range of Rs 2,000 to Rs 10,000.
General Motors India on Tuesday increased vehicle prices by up to Rs 61,000 in order to partially offset the impact of rising input costs and expiry of reduced excise duty concessions.
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.
"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.
Production was halted at the Halol plant of General Motors in Gujarat because of heavy rains, a senior company official said on Thursday.
The Chevrolet Aveo is available in the Indian market with a starting price of Rs 597,000.
This is GM's first flexi engine plant where both petrol and diesel small car engines would be manufactured together, General Motors India, vice president, P Balendran, told reporters in Kochi.
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.
Come New Year, cars will be costlier with automakers like Toyota and General Motors on Tuesday saying that they will hike prices by up to three per cent due to rising input costs, while the country's largest car maker Maruti Suzuki India is still evaluating the situation.
Segment has been rather sluggish due to high fuel and input costs coupled with high interest rates and negative market sentiments.
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).
After a six-week tussle, the strike at General Motors India's Halol factory, 35 km from Vadodara, has finally been called off, with the workers and management reaching an understanding.
GM president and managing director Lowell C Paddock said the company is bullish on passenger vehicles with some commercial applications and is open to opportunities in the space.
General Motors, the world's largest automaker, said it would buy South Korea-based Daewoo Motors' assembly unit in India for an undisclosed price.
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.
Workers resorted to strike at the Halol facility in Gujarat that has an installed capacity of 85,000 units a year.
The vehicle would be the electric version of General Motors' small car 'Spark'. Reva would provide battery technology for the E-Spark.
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.
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.
Automobile manufacturer General Motors on Wednesday cut the price of its vehicles by up to Rs 30,500, following the government reducing excise duty.
General Motors Corp. plans to source $1 billion worth of automobile parts from India each year by 2008 as part of cost-cutting measure at the world's biggest automaker, a senior executive at its local subsidiary said Friday.
General Motors India on Wednesday said its sales grew 42 per cent in February 2005 and announced that expansion of its Halol plant would be completed later this month.
The RBI on Thursday lowered the benchmark repurchase rate to 7.75 per cent from 8 per cent, the first reduction since May 2013.
The company had identified some emission-related issue with Tavera and some quality issue with Sail.
Contrary to the General Motors India's expectations of starting work at its beleaguered Halol plant from Monday, the deadlock over wage revision seems far from over.
Company officials have maintained that the closure is a routine exercise and is not a fallout of the ongoing global meltdown. "There will be no production at the company's Halol unit for about two weeks," said P Balendran, vice-president, GM India. The company has shut production from December 13 to December 30.
General Motors India on Wednesday said it would hike the prices of its multi-utility vehicle Chevrolet Tavera ranging from Rs 4,800 to Rs 8,700 across all variants from December 24.
As the rupee continues its freefall against the dollar, cars, TVs, washing machines and other home appliances are set to cost more with companies set to hike prices to offset impact on their margins.
Fuel price hike will impact demand going forward.
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