GM India to register 20% growth despite Global slowdown

Bangalore, Oct 30 (UNI) General Motors India expects 20 per cent growth during the calender year 2008 despite Global slowdown hampering automobile market, GM India Director and Vice President (Corporate Affairs) P Balendran said today.

Talking to newsmen here, he said ''though the Global slowdown has affected almost all the economic sectors in the world, the impact on Indian economy was not much affected and as far as GM Motors is concerned the expected growth was 20 per cent during the calendar year 2008 with sales expected being 80,000 units against 60,000 units sold last year.'' Replying to a question, he said GM India's market share was targetted at 10 per cent by 2010 and this year. It is expected to be four per cent. ''The new models released by GM India are receiving good response and the market share which was 1.6 per cent during the first year of venture to India would certainly grow and touch 10 per cent share in next two years time.'' Mr Balendran said that the manufacturing capacity of Talegaon plant in Gujrat would be increased to 160,000 units with 'flexi' diesel and petrol engine. At present the plant is producing 140,000 units. At Halol plant the capacity was increased to 85,000 from 65,000 units. "This shows that General Motors India is fast growing,'' he added.

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