GM’s new small car at Rs. 4 lakh to hit roads by year-end

General Motors India said it will roll out a slew of models, including a small car priced at around Rs. 4 lakh by this year-end. The company also said it will achieve a growth rate of 10 per cent in 2009 despite a fall in sales in the first five months of this year.

“The mini car will be in the upper end of the mini-car segment. It will be with a ballpark price of Rs. 4 lakh and will hit the market by the end of this year,” General Motors India President and Managing Director Karl Slym told reporters here.

The small car, which will be developed on the platform of GM’s concept car Beat, will be manufactured exclusively at GM India’s Talegaon facility for serving the domestic as well as export markets. “As of now, the mini car will be manufactured in Korea and India. From India, we are also planning to export to the Asia Pacific region and European countries, which could start by 2010,” Slym said.

When asked about the company’s sales target for the current year, Slym said it would maintain last year’s growth (which was 10 per cent) despite GM India’s sales falling in the first five months of this year.

Source: Economic Times