GM India eyes 10% market share by 2010

Notwithstanding the sluggishness in the market, General Motors India, a wholly owned subsidiary of General Motors Corporation, is eyeing a market share of 10 per cent by 2010, a top official of the firm said.

"We are looking at a market share of 10 per cent by 2010, from a little over 4 per cent now," Karl Slym, president and managing director, GM India, told the press, launching the firm's new Chevrolet Aveo U-VA here today.

"We have a strong footprint in India, with the country being GM's powertrain hub for the Asia-Pacific. We have 1,600 engineers at the Engineering Centre in Bangalore itself, of whom 100 are in R&D," he said.

 

GM, which is sourcing components worth $500 million from Indian suppliers, will buy parts for $1 billion by 2010, Slym said.

The automaker, which started with 100 dealerships and 100 service outlets this year, will close the year with 200 dealerships, 50 per cent of which will be in rural markets and 200 service outlets, he said.

GM India Vice-President P Balendran said the firm's overall sales stood at 65,000 units in January-November 2008 as against just over 60,000 units during the corresponding period last year.

"We should be able sell 70,000-72,000 units this year and are expecting a growth rate of 15-20 per cent," he said.