GM's small car may priced at 4 lakh

General Motors India is to launch its new small car by the year-end which will be price about Rs 4 lacks.
The pricing of the small car, first unveiled at the Geneva Motor Show earlier this year.

While the parent company in the US is struggling to stave off bankruptcy by a government bailout, for GM India, “Its business as usual and all investments are on track,” according to the company president and managing director Karl Slym. Last month, GM India sold 5,001 units, a 5% growth over its February sales. In fact, he says: “We are seeing a slight revival in the sector” 

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The GM India head said in an interview with ET, The company will launch its high-end salon, Cruise, in the Rs 12-13 lakh price point. The small car will be launched in both petrol and diesel versions . The engine for this car will be made in India by middle of next year at its factory at Talegaon.

GM sold 65,702 units in the calendar year 2008, and expects the growth rate to be flat this year for the industry, adding that the company expects to outstrip the industry growth rate by maintaining a 10% rate, the same as last year.(ET)

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