GM India hopes to break even in four years
General Motors (GM) India, which started operations in the country nearly 17 years ago, is hoping that it would financially break even within four years.
Kolkata: General Motors (GM) India, which started operations in the country nearly 17 years ago, is hoping that it would financially break even within four years.
"Our operations in the country are not profitable at the moment. We hope to break even in two to four years time," chief financial officer of GM India Anil Mehrotra said.
Launching the Chevrolet SAIL sedan here today, he said that in 2011, the company's sales figure crossed the one-lakh figure mark, but dipped to 94,000 units in 2012.
"We are planning a good growth in the current year. We expect to grow between 40 percent to 50 percent with the launch of SAIL sedan and multi-purpose vehicle Chevrolet Enjoy (to be launched in three months)," he said.
Developed jointly by SAIC of China and GM India, the SAIL sedan would be initially manufactured with a capacity of 48,000 units per annum and ramped up month by month.
Mehrotra said that in China, the car's sales volume was 41,000 units per month.
"The SAIL sedan car has a potential sales volume of 40,000 units per month in India," Vikas Jain, director (sales) of GM India said.