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GM India unveils three cars, to invest Rs
100 cr |
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New Delhi, Jan 19, 2006 (Times
of India): General Motors is stepping
on gas in the Indian car bazaar. The car
maker on Wednesday unveiled three new cars
for the Indian market, including a premium
hatchback Aveo U-VA that will be pitted
against Maruti's fast-selling Swift. The
firm also announced plans to invest Rs 100
crore over the next one year to increase
the car production capacity at its plant
in Halol, Gujarat.
The new cars - including a notchback version
of Aveo and a sportyback Optra - will be
commercially available from March this year.
"We plan to start sales only after
the Budget to include any excise benefits
that might be announced by the government,"
General Motors India president Rajeev Chaba
said. Though the prices of the vehicles
were yet to be finalised, sources pointed
out that the entry-level Aveo U-VA is expected
to sport a tag of around Rs 4.25-4.5 lakh.
"The entire vehicle range, including
the two Aveos and the sporty Optra, will
be priced in the Rs 4.25 lakh to Rs 7.5
lakh bracket," a source said.
The firm, he said, is building capacity at
its Halol plant to meet growing demand in
the automobile market. "We will be investing
Rs 100 crore to hike the capacity from 60,000
units a year to 80,000 units," Chaba
said. "GM regards India as one of the
key markets for investments, and we will be
more aggressive in our approach now."
It is also opening two additional parts distribution
centre one each in Maharashtra and Delhi to
compliment the existing ones at Halol and
Chennai. |
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