General Motors to launch three Chevrolet models in India
US based worldâ€™s largest maker of automobiles General Motors has announced that they would be launching as many as three Chevrolet branded cars in the Indian market this year. This would be part of their plan to enhance their model range by at least five cars in the next two years to get a stronghold in the Indian market. GM is having a bad time in their domestic market of USA and they want to cover up the losses by expanding their operations in the other international markets.
The company also has plans to launch as many as 29 vehicles in their Asia Pacific markets in this year alone. GM is doing good business in this segment of the worldâ€™s market as they recorded an impressive growth of 20 per cent from 2004 volumes in 2005. The company sold as many as 1.06 million vehicles in Asia Pacific last year.
GM seems to have gained a lot from selling Chevrolet branded cars in markets like India and Thailand. This has helped this brand to become one of the fastest growing brands in this region. GM has gained tremendous brand value with their Chevy cars in the Indian market. This comes despite the fact that most of the vehicles launched as Chevrolets in India are in fact Daewoo products.
GM sold close to 30,837 Chevrolet branded cars in the Indian market last year compared to 26,166 vehicles sold the previous year. This is an improvement of around 18%. Most of these sales came from their very popular Chevrolet Tavera model, which sold around 18,622 units. The company also has plans to expand the manufacturing capabilities of their plants in India to manufacture as many as 80,000 vehicles per year.