GM India to miss deadline for capturing 10% mkt share

GM India will miss its 2010 deadline for achieving 10 per cent share in the car market.

Even though bankruptcy-hit US auto giant has been reiterating that its Indian business will remain unaffected,the company will miss its 2010 deadline for achieving 10 per cent share in the car market.

“The economic downturn has forced us to go for a change of plans. Instead of 2010 as the timeline for securing 10 per cent share in the Indian car market,we are now re-scheduling the target till 2011,” General Motors India President and Managing Director Karl Slym said.

The company is,however,optimistic of achieving a 10 per cent growth rate in sales this year over last year’s figures.

GM India had sold 65,702 units in 2008.

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“With the newly-launched LPG Spark which has already sold 600 units,besides the planned launch of Cruze and the mini- car,we are hopeful of a big growth in 2010,” Slym said.

He,however,said the missed deadline would not be any big setback.

“We will continue to offer the best models and best services to our customers in the India. With the economy showing signs of bounce-back,we are optimistic about the future,” Slym added.

Earlier in June,General Motors had filed for bankruptcy protection in the US,which excluded the Indian operations,and later eventually came out of it with a trimmer new GM.

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Since then,it has been maintaining that the business in India would remain unaffected and profitable.

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