Optimistic of sales picking up with new launches: GM
Kochi: General Motors on Wednesday said it is optimistic of its sales picking up with new launches, including the Chevrolet Enjoy, the new generation premium Multi Purpose Vehicle.
"We expected the market to grow 17-18 percent in 2012.It came down to 12-14 percent in 2012 and now it is in negative territory," GM India Vice President P Balendran told reporters here after launching launching Enjoy in the Kerala market.
"We need to create excitement even in sluggish market. We are upbeat about the Enjoy and hope to sell in excess of 3,500 units a month nationally and 400 units a month in Kerala," he said.
In April 2012, 8005 units were sold by GM India while in April this year sales had touched 8,196 units. Because of the new launches, sales were picking up, he said.
Total sales of passengers cars in the automobile market in 2012 was 20 lakh while this year it is expected to be only 19 lakh, he said.
The market was likely to improve only by the festival season. The interest rates are high, fuel prices are going up and there was political instability, resulting in the continuation of the sluggish market, he said.
The company had sold 8400 cars last year in Kerala and expects its sales to touch 12,000 units this year.
On the new launch, he said, "We believe this is the right product for India in one of the market's fastest growing segments. The new vehicle would be the most preferred vehicle brand in the country."
GM India has achieved substantial localisation at the start of regular production of Enjoy, which is unprecedented for a global vehicle manufactured in India. This is significant not only for the local economy, but also benefits buyers through a lower cost of ownership as a result of lower parts prices and ready availability of spare parts, he said.