GM to start production in India...
02-11-2003, 06:52 AM
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GM to start production in India...
New Delhi, Feb. 11 (Bloomberg) -- General Motors Corp., the world's largest automaker, will sell Chevrolet cars in India cheaper than its existing Opel range to boost sales in Asia's fourth-biggest automobile market.
The company plans to make Chevrolet its main and more affordable brand in the country, said Aditya Vij, president and managing director of the company's Indian unit.
Demand for more affordable cars in the midsize sedan category is growing in India, home to a sixth of the world's population, where 40 percent of the nation's 1 billion people live on less than $1 a day, according to World Bank estimates.
The number of Indian households able to afford cars and air travel will reach 33 million by 2010, about triple the level in 1990, according to the National Council of Applied Economic Research, a think-tank.
As many as 10 companies compete for a share of India's $3 billion car market. General Motors' share fell to 1.6 percent in the seven months through October 2002 from 1.7 percent in the year-ago period. Sales of cars, buses and trucks in India will probably rise to 1.4 million units in 2010 from 795,000 this year, according to auto industry consultant Autopolis.
General Motors also plans to get as many as 10,000 engines for its cars from Indian carmaker Hindustan Motors Ltd. The U.S. carmaker will receive the first engine from Hindustan Motors later this year.
This will help General Motors price its cars lower as imports attract higher duties. The sourcing of engines ``will grow three-fold in the next three years,'' Vij said.
Hindustan Motors already makes the Isuzu 1.8-liter diesel engine for its own Ambassador, a car based on the 1954 Morris Oxford, and the new engine will help it boost revenue.
General Motors now sells the Opel Astra, Corsa and Vectra models in India. It has a manufacturing plant at Halol in the western province of Gujarat.
The company plans to make Chevrolet its main and more affordable brand in the country, said Aditya Vij, president and managing director of the company's Indian unit.
Demand for more affordable cars in the midsize sedan category is growing in India, home to a sixth of the world's population, where 40 percent of the nation's 1 billion people live on less than $1 a day, according to World Bank estimates.
The number of Indian households able to afford cars and air travel will reach 33 million by 2010, about triple the level in 1990, according to the National Council of Applied Economic Research, a think-tank.
As many as 10 companies compete for a share of India's $3 billion car market. General Motors' share fell to 1.6 percent in the seven months through October 2002 from 1.7 percent in the year-ago period. Sales of cars, buses and trucks in India will probably rise to 1.4 million units in 2010 from 795,000 this year, according to auto industry consultant Autopolis.
General Motors also plans to get as many as 10,000 engines for its cars from Indian carmaker Hindustan Motors Ltd. The U.S. carmaker will receive the first engine from Hindustan Motors later this year.
This will help General Motors price its cars lower as imports attract higher duties. The sourcing of engines ``will grow three-fold in the next three years,'' Vij said.
Hindustan Motors already makes the Isuzu 1.8-liter diesel engine for its own Ambassador, a car based on the 1954 Morris Oxford, and the new engine will help it boost revenue.
General Motors now sells the Opel Astra, Corsa and Vectra models in India. It has a manufacturing plant at Halol in the western province of Gujarat.
Some of muh peeps should be able to get jobs 
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