General Motors India on Wednesday said it was looking at phasing out some of its old models such as the Aveo and the Optra and replace these with new ones.
General Motors HAS appointed Arvind Saxena, former Managing Director of Volkswagen Passenger Cars India, as the President & Managing Director of its Indian unit.
Industry players have sought government support in the form of stimulus package and reduction in excise duty to overcome the slump.
A government-instituted panel which probed the extent of non-compliance by General Motors in re-fitting pre-approved engines on Tavera models sent for inspection to meet specified emission norms, submitted its report late on Monday evening, holding the company responsible for corporate fraud.
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.
The company has purchased 43 per cent stake from its Chinese partner Shanghai Automotive Industry Corporation Group for an undisclosed sum.
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