Press Esc to close
Friday 28 August 2015
News updated at 10:26 AM IST
Weather
Max: 30.1°C
Min : 19.6°C
In Bengaluru
Partially cloudy

Industry will grow at 2% this fiscal: GM India

Chennai, Feb 4, 2013, PTI:

General Motors India on Monday said automobile industry is expected to grow by two per cent in this financial year.

"Last year (2011-12), in the beginning, we (industry) all thought that the market is likely to grow somewhere around 12-14 per cent. By the time the year got close, the growth was somewhere around only two per cent," General Motors India, Vice-President P Balendran said.

He said that the industry would not grow more than two per cent, and if one looked at last year's figures, General Motors sold about 92,435 units in the domestic market, which was down 17 per cent compared to 2011. The company last year phased out three products, including premium sedan Optra, midsize sedan Aveo and hatchback U-VA resulting a decline in sales. "But this year, we should be able to register growth in tandem with the market", he said.

He said the company expects to launch its first multi purpose vehicle 'Enjoy' by March end or April and it would be competitively priced.

After launching the latest sedan 'Sail' in Tamil Nadu at a price of Rs 4.99 lakh onwards (ex-showroom Chennai), he said the company hopes to sell about 48,000 units per annum, including its hatchback. -- Sail U-VA across India.


Go to Top

Photo Gallery
Bollywood actor Ranbir Kapoor with fashion designer Manish Malhotra at his show...

Bollywood actor Ranbir Kapoor with fashion designer Manish Malhotra at his show...

Students celebrate Onam festival by making floral rangoli ‘pookalam’ at a public school...

Students celebrate Onam festival by making floral rangoli ‘pookalam’ at a public school...

Devotees watch a procession during Kumbh Mela or the Pitcher Festival in Trimbakeshwar...

Devotees watch a procession during Kumbh Mela or the Pitcher Festival in Trimbakeshwar...

Activists of Left Front affiliated peasants organisation break police barricades...

Activists of Left Front affiliated peasants organisation break police barricades...

Boys stand near the charred vehicles after the incidents of violence following the Patel...

Boys stand near the charred vehicles after the incidents of violence following the Patel...

Ex-servicemen continue their indefinite hunger strike over non-implementation of OROP...

Ex-servicemen continue their indefinite hunger strike over non-implementation of OROP...

Bihar Chief Minister Nitish Kumar with his Delhi counterpart Arvind Kejriwal offering prayers...

Bihar Chief Minister Nitish Kumar with his Delhi counterpart Arvind Kejriwal offering prayers...

Leader of the Opposition and CPI(M) State Secretary Surya Kant Mishra participates in a rally...

Leader of the Opposition and CPI(M) State Secretary Surya Kant Mishra participates in a rally...

Army soldiers conduct flag march in a sensitive area of Ahmedabad on Thursday...

Army soldiers conduct flag march in a sensitive area of Ahmedabad on Thursday...

Special Operation Group (SOG) jawans take positions near the house where militants were hiding...

Special Operation Group (SOG) jawans take positions near the house where militants were hiding...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523