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GM Stay in India for Long
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By Carazoo
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GM Stay in India for Long
General Motors India plans to launch five new car models in couple of years. The news comes amidst the gloom surrounding its parent company General Motors, U.S. which filed for bankruptcy protection on June 1.
Even as the car giant filed for bankruptcy in U.S, the Indian arm of the General Motors came under the radar of suspicion by Indian car buyers. The news of bankruptcy has spread fear among car buyers that the company was closing operations in India. However, this is far from the truth. The General Motors India has begun fire fighting exercises to assure consumers that it is not leaving India. The company recently constructed the production plant at Talegaon in Maharashtra at a cost of $ 300 million. It is also constructing a new powertrain production plant in Talegaon at a cost of $ 200 million.
The company admitted that it was finding it difficult to raise $ 200 million from Indian banks. However auto analysts speculate that this could have happened as banks have frozen credits as a policy.
The Indian arm of General Motors has been doing rather well. It continues to do business as usual and has stocked spares and parts at all dealerships. The spare parts are usually imported from Thailand, Korea, Japan and Europe. The Asia Pacific region and
South Asia has been largely unaffected by the breakdown of their parent company. India is closely linked to the Asia Pacific region for supply of spare parts and accessories, which is currently available in abundance. General Motors India is on the safer side as it is been an autonomous body raising funds on its own.
General Motors vice president marketing and sales Mr Ankush Arora has confirmed that the company has no plans to back out from India, or stop flow of investments and car launches. The company is taking special care to ensure that their plans for India are intact.
It has plans to launch new car models such as the LPG version of Spark in this month, Luxury sedan Chevrolet Cruze in September this year and a mini car smaller than Spark in early 2010. Two other car models are set to be introduced in the next two years. A scan through the list of car launches will assure a consumer that GM will be in India for a long time to come.
The Indian GM division launched an innovative campaign "there for you, there for India", which aims at assuring Indian buyers that are here to stay.
Interestingly for the company, the sales rose by 1.18 percent at 3,890 units in May as against 3,847 units in the corresponding month last year. As such sales figures continue to come by, there is no doubt that General Motors will continue to be in India.
Even as the car giant filed for bankruptcy in U.S, the Indian arm of the General Motors came under the radar of suspicion by Indian car buyers. The news of bankruptcy has spread fear among car buyers that the company was closing operations in India. However, this is far from the truth. The General Motors India has begun fire fighting exercises to assure consumers that it is not leaving India. The company recently constructed the production plant at Talegaon in Maharashtra at a cost of $ 300 million. It is also constructing a new powertrain production plant in Talegaon at a cost of $ 200 million.
The company admitted that it was finding it difficult to raise $ 200 million from Indian banks. However auto analysts speculate that this could have happened as banks have frozen credits as a policy.
The Indian arm of General Motors has been doing rather well. It continues to do business as usual and has stocked spares and parts at all dealerships. The spare parts are usually imported from Thailand, Korea, Japan and Europe. The Asia Pacific region and
General Motors vice president marketing and sales Mr Ankush Arora has confirmed that the company has no plans to back out from India, or stop flow of investments and car launches. The company is taking special care to ensure that their plans for India are intact.
It has plans to launch new car models such as the LPG version of Spark in this month, Luxury sedan Chevrolet Cruze in September this year and a mini car smaller than Spark in early 2010. Two other car models are set to be introduced in the next two years. A scan through the list of car launches will assure a consumer that GM will be in India for a long time to come.
The Indian GM division launched an innovative campaign "there for you, there for India", which aims at assuring Indian buyers that are here to stay.
Interestingly for the company, the sales rose by 1.18 percent at 3,890 units in May as against 3,847 units in the corresponding month last year. As such sales figures continue to come by, there is no doubt that General Motors will continue to be in India.
Tags & Keywords : General Motors India, Bankruptcy, Cars in India, General Motors Sales, New Car Launches, new car models, GM campaign, Chevrolet Spark, Chevrolet Cruze, small cars