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General Motors India on April 17,2007,Tuesday launched its new compact Chevrolet Spark car in for the Indian market.
Terming Chevrolet Spark as world's newest-generation compact city car, GM Chairman Rick Wagoner said it was specifically built for Indian conditions and keeping in mind Indian buyers.
"Introducing the Spark is part of our strategy of leveraging GM's unmatched global resources to aggressively roll out new vehicles. Vehicles engineered and built in India...to meet the specific needs of car buyers throughout India. We are confident that the Spark will help keep GM on a roll in this very important market for our company," said Wagoner.
Annual passenger vehicle sales in India are forecast to nearly double to two million units by 2010, on the back of rising incomes. The company has so far sold about two million units in 100 markets across theorld.
Available in four options, the Spark is pegged at rupees 300, 900. The top-end variant would be available at 389,000 rupees.
GM, which aims to have 10 percent of the fast-growing Indian market by 2010, makes the Corsa, the Chevrolet Optra and Aveo sedans and the Tavera multi-utility vehicle at a plant in Gujarat state, which has a capacity of producing 85,000 units.
"With the exception of China, we don't expect any single market anywhere in the world to grow faster over the coming decade than India will. That's why GM has invested more 750 million dollars in this country. Investment is contributing to a stronger and more vibrant automobile industry with the introduction of advanced manufacturing processes, engineering ideas and the latest technology," Wagoner said.
Wagoner also met Prime Minister Manmohan Singh in New Delhi earlier in the day.
General Motors is building a second plant in Maharashtra with an initial capacity of 140,000 units and has said it may build an engine and transmission plant as well, as it tries to wrest share from Suzuki Motor Corp.'s Maruti Udyog.
Source:Yahoo News
Sponsored by:Terming Chevrolet Spark as world's newest-generation compact city car, GM Chairman Rick Wagoner said it was specifically built for Indian conditions and keeping in mind Indian buyers.
"Introducing the Spark is part of our strategy of leveraging GM's unmatched global resources to aggressively roll out new vehicles. Vehicles engineered and built in India...to meet the specific needs of car buyers throughout India. We are confident that the Spark will help keep GM on a roll in this very important market for our company," said Wagoner.
Annual passenger vehicle sales in India are forecast to nearly double to two million units by 2010, on the back of rising incomes. The company has so far sold about two million units in 100 markets across theorld.
Available in four options, the Spark is pegged at rupees 300, 900. The top-end variant would be available at 389,000 rupees.
GM, which aims to have 10 percent of the fast-growing Indian market by 2010, makes the Corsa, the Chevrolet Optra and Aveo sedans and the Tavera multi-utility vehicle at a plant in Gujarat state, which has a capacity of producing 85,000 units.
"With the exception of China, we don't expect any single market anywhere in the world to grow faster over the coming decade than India will. That's why GM has invested more 750 million dollars in this country. Investment is contributing to a stronger and more vibrant automobile industry with the introduction of advanced manufacturing processes, engineering ideas and the latest technology," Wagoner said.
Wagoner also met Prime Minister Manmohan Singh in New Delhi earlier in the day.
General Motors is building a second plant in Maharashtra with an initial capacity of 140,000 units and has said it may build an engine and transmission plant as well, as it tries to wrest share from Suzuki Motor Corp.'s Maruti Udyog.
Source:Yahoo News
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