General Motors is reportedly planning new cars and expansion in India. The company has said. Global auto giants have been given a lifeline by robust growth in car sales in February. Maruti Suzuki registered its largest ever sales in a single month, while Hyundai India Motors bettered its last performance.
In the meantime there is news that GM India is thinking over the expansion of its operations in India. As an alternative to step up the sales of General Motors cars, the company is evaluating car financing. The company is talking with some banks for enabling car financing for its models throughout India. Some of the private banks squeeze their grips on financing that has resulted in the non appearance of credit in the market.
Karl Slym, the president of GM India President says that it could be very difficult for them to predict the graph of sales for the first half of year 2009 but it is expected that the market would recover by 2009.
He goes on to say, “Our facility in Talegaon, Maharashtra, is being expanded to have an engine/powertrain plant. The target was to sell 2,500 units of Spark Muzic and 35,000 units of other Spark variants this year”.
General Motors India expect 10% of growth in car sales for the current year 2009 as well as plans to sell 72,000 units throughout the country as compared to 2008.
Mr. Karl Slym said - “The Indian economy is still in doldrums and the car market is unlikely to see full recovery this year. Last year also we grew by around 10 per cent despite the overall car market registering a drop of 2 per cent. This year we are are optimistic that our sales will grow by around 10 per cent year on year.”