Tim Lee, president, international operations, GM, said, “We are looking at having products strategically across segments to boost sales in the Indian market. We working closely with SAIC and looking at opportunities to introduce a product priced lower than the Spark in future.”
The Chevrolet Spark is priced between Rs 3.23 lakh and Rs 4.24 lakh (ex-showroom), on the other hand Alto is tagged between Rs 2.31 lakh and Rs 3.27 lakh.
“India and the rest of the emerging markets are very important to us. The business model after the IPO (Initial Public Offering, of GM shares) is to focus on and leverage on these growth markets,” added Lee. The small car segment, nearly 70 per cent of passenger vehicle sales in India, grew by a third between April and December 2010. Its potential has attracted many companies, such as Japan’s Toyota and Honda Motor, to develop products exclusively for the market here.
This financial year the car market in India recording growth of over 30 per cent, GM has also firmed plans to raise sales to 300,000 units in India by 2013 and has planned to launch six new vehicles in association with SAIC over the next two years. This includes two light commercial vehicles, a sports utility vehicle, a sedan, a hatchback and a notchback.
Even as Toyota Liva, the hatchback the company designed on the Etios platform, is to be introduced here in June, the Honda Brio will follow later this year.