GM India operations profitable: Slym

Auto manufacturer General Motors (GM) India today said its operations are earning profit after 13 years of existence in the country, a company official said.

"Our operations in India are profitable for which substantial investments have been made here," President and Managing Director GM India Karl Slym said.

The company also expects to clock a sales figure of one lakh cars across its various models during 2010, against the 70,000 last year.

"We sold 70,000 units in 2009. We intend to touch the onelakh mark this year," Slym said while launching the latest offering 'Beat' in the city.

He said the company had registered a market share of 4.6 per cent in the passenger car segment during December 2009.

Slym said three years down the line, the company expects to register sales of two lakh units, out of which Light commercial vehicles (LCV) component would be there.

GM India, which had floated a 50:50 JV with Shanghai Automotive Industries Corporation (SAIC) of China, plans to roll out mini-trucks in the LCV segment by the fourth quarter of 2011.

Slym said with the commodity prices going up, the company might be forced to look at revising the product prices upwards.