General Motors wants 10% of the Indian auto market

General Motors wants 10% of the Indian auto market

World’s largest automaker is pretty confident about their goals for the Indian market. GM is already the world’s largest automaker and they are aggressively marketing their products in India. Facing massive problems in their domestic market, GM has plans to expand their overseas market to continue their domination in the auto market.

The company currently has around 2% of the Indian auto market and has plans to corner for itself as much as 10% of the overall auto market in India. GM has also planned a massive expansion plan with investments of around Rs 100-crores. This would be funded mainly through foreign direct investment and internal accruals.

General Motors is also planning to expand the capacities of their Halol plant in Gujarat to 85,000 units against the existing capacity of 60,000 units to meet the growing demand of their recently launched vehicles Aveo Sedan and hatchback.

P Balendran, vice-president, GM India said in a statement on their Indian venture: “Few individual markets have greater potential and opportunities. India is one of the fast emerging markets in the region. As the country’s car market continues to develop, we are seeking to have a complete presence in India.”