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GM India to launch two new cars next year
Friday, 06 December 2002, 20:30 IST
NEW DELHI: General Motors India, the local arm of the U.S. auto giant General Motors Corp., Thursday announced it would launch two new car models next year with to increase its share in the domestic automobile market.
"We plan to launch additional vehicles in 2003, at least two new cars," Aditya Vij, managing director of General Motors India, said at a press conference after unveiling the luxury sedan Opel Vectra here.
Vij, however, refused to name the new models. The company plans to infuse 
6 billion over the next few years to boost its operations.
General Motors India sells the German-engineered Opel Astra, Corsa and Swing models in the domestic market. Vij said the company expects to sell about 9,000 cars in 2002, up from about 8,000 sold last year.
The company hopes to sell 1,000 to 1,200 units of the Opel Vectra by end of the next year. General Motors did not disclose the price of the 2.2 litre petrol engine Vectra.
The new model will compete with other luxury cars vying to grab a larger share of the domestic market such as Ford India's Mondeo and the Sonata from Hyundai. All models in the segment are priced at over 1.1 million.
"In terms of excellence in engineering, safety features, passenger comfort, space design, prestige and ease in driving, it's a car that is ideal for the premium segment car buyer," Vij claimed.
On the company's future plans for India, he said: "India has been identified as one of the key growth markets in the region by our corporation.
"We are in the process of introducing more models in the near future and widen our product portfolio. We have also embarked upon an ambitious programme to widen our reach and dealership network".
Source: IANS
6 billion over the next few years to boost its operations.
General Motors India sells the German-engineered Opel Astra, Corsa and Swing models in the domestic market. Vij said the company expects to sell about 9,000 cars in 2002, up from about 8,000 sold last year.
The company hopes to sell 1,000 to 1,200 units of the Opel Vectra by end of the next year. General Motors did not disclose the price of the 2.2 litre petrol engine Vectra.
The new model will compete with other luxury cars vying to grab a larger share of the domestic market such as Ford India's Mondeo and the Sonata from Hyundai. All models in the segment are priced at over 1.1 million.
"In terms of excellence in engineering, safety features, passenger comfort, space design, prestige and ease in driving, it's a car that is ideal for the premium segment car buyer," Vij claimed.
On the company's future plans for India, he said: "India has been identified as one of the key growth markets in the region by our corporation.
"We are in the process of introducing more models in the near future and widen our product portfolio. We have also embarked upon an ambitious programme to widen our reach and dealership network".
Source: IANS