The Hindu : General Motors launches Chevrolet brand

Online edition of India's National Newspaper
Wednesday, Feb 12, 2003

Business

Business

General Motors launches Chevrolet brand

NEW DELHI FEB. 11. General Motors India (GMI) today launched the popular Chevrolet brand in the country and said it would roll out a range of new vehicles under this brand this year.

The vehicles would be introduced as part of the company's strategy to "become a volume player'' in the Indian automobile market, the President and Managing Director, General Motors India, Aditya Vij, told reporters here.

"We have not yet addressed the heart of the automobile market which is larger and growing at a faster pace than the C (mid-size) segment. We want to become a volume player,'' Mr. Vij said.

"In the coming months, we will be announcing the launch of new products under the Chevrolet brand that will be specially designed for the Indian market. We aim to become the smart choice in the mainstream market,'' he added.

He said cars, trucks, sports-utility vehicles and vans were manufactured globally under the Chevrolet brand but declined to specify the products to be introduced in the domestic market.

GMI, a wholly-owned subsidiary of the U.S. auto giant General Motors Corp, produces the mid-size car Opel Corsa, premium mid-size Opel Astra, station wagon Opel Swing at its plant at Halol in Gujarat. It also sells the luxury car Opel Vectra after importing it as a completely-built-unit (CBU).

Stating that the parent company had identified India as one of the key growth markets globally, Mr. Vij predicted that the domestic market would grow annually at 9-9.5 per cent in the next ten years.

Besides Chevrolet, GMI might introduce vehicles of the erstwhile Daewoo Motors of Korea that had been acquired last year by a consortium led by its parent company, Mr. Vij said.

"We will have an opportunity to look at those (Daewoo) platforms in future,'' he said but added that GMI had no plans to bid for Daewoo Motors India whose assets had been put on auction.

He said an additional Rs. 700 crores would be invested by the company by March next year which would take GMI's total investment to about Rs. 1,300 crores. The money would be used for various activities, including producing engines for the new vehicles.

GMI planned to sell the new Chevrolet branded vehicles alongside the Opel branded vehicles in its 42 dealerships, Vice President (Marketing), Vinay Dixit said.

"Our intention is to have dual brand dealership. But, the vehicles would be separately positioned. The Chevrolet will supplement the premium Opel brand from GM,'' he said.

Globally, General Motors has sold over 172 million Chevrolet vehicles since it was the first product launched in 1911.

— PTI

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