General Motors India on Wednesday launched a special edition version of premium mid-size car Chevrolet Optra to strengthen its position in the entry-level luxury segment.
General Motors India on Tuesday reported a 74 per cent sales growth to 1,401 units in April 2004 over 805 units in the same month last year and said it would bring in more 'Chevrolet' models.
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 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 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.
General Motors India is expanding its manufacturing capacity to produce 50,000 vehicles by 2005.
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.
Maruti, Tata Motors and Ford Motor India have already made similar announcements.
.jpg)
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.
Maruti recorded 20 per cent jump in sales during November.
Already reeling under a demand slump, automobile manufacturers have expressed disappointment over the RBI's decision to hike short term lending rate saying it is likely to impact the interest rates on car and automobile loans further.
Even as domestic passenger car sales declined 29.4 per cent between April and August this year, exports grew 6.5 per cent, partially cushioning the blow from slowing sales.
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.
General Motors India Vice President P Balendran termed the decision as a positive move for the overall economy.
There was no sale of premium sedan Kizashi during the month.
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.
Tampering with electrical fittings of a car, subjecting it to improper maintenance or making unwarranted changes to it are the primary reasons behind the spurt in cases of vehicle fires, which have claimed several lives in the recent past.
India Inc expects the RBI to cut interest rates by early next year.
Exports in August were up 10.3 per cent to 12,472 units from 11,305 units in the same month of previous year.
During September, Maruti said it dispatched 1,375 units of the soon-to-be-launched sedan Ciaz.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances