General Motors India hopeful of market revival by October this year

Wednesday 15 May 2013, 11:55 AM by

General Motors India Private Limited, a domestic subsidiary of the American multinational automobile conglomerate, is hoping that the domestic auto market would show signs of revival this year during the October-November festival period. The optimistic point was put forth by Rajesh Singh, Vice President (VP) of Vehicle Sales, Service and Marketing at General Motors India.

General Motors India hopeful of market revival by October this year | CarTrade.com
General Motors India hopeful of market revival by October this year

As per Singh, the passenger vehicle sales dropped in the Indian auto market between January and March months of 2013. The numbers equate to a whopping decline of 18 per cent, as compared to same year-ago period. The prevalent slowdown in the auto sector is mostly due to rising fuel prices, high motor vehicle finance rates and lack of customer interest in petrol vehicles. The rise in the price of diesel fuel has also hampered the sales recorded by the diesel-run vehicles, which were selling in big numbers over the course of last year.

However, General Motors India is hopeful that it would register a double digit growth in vehicle sales during the April to June period of the ongoing year. So far in 2013, the American auto major has introduced two new models- Chevrolet Sail and Enjoy in the domestic car market and is confident that the two would help it in achieving its sales targets. The Chevrolet Sail entry level sedan was launched in February 2013, whereas the Enjoy Multi Purpose Vehicle (MPV) entered the market space on May 9 this month. Therefore, the company is looking at improving its numbers and profit margins on the back of Sail and Enjoy sales.

Speaking his mind on the company's growth prospects, Rajesh Singh was quoted as saying, “We are expecting this growth on the strength of the new models we have launched.” On the new Chevrolet Enjoy MPV, Singh said, “As a new leader in the segment, we expect the Enjoy to be very popular.”

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