Indore July 26: General Motors is hoping to capture 40 per cent of the mid-segment car market on the back of Chevrolet Optra and the new offerings it has lined up for launch. ''We are hoping to capture 40 per cent of the mid-size car market,'' P Balendran, vice president (corporate affairs) of GM India said at a press conference yesterday at the launch of Optra here.
He said that the company would be enhancing its production capacity to meet the high demand that its new launches - Chevrolet Optra and Opel Corsa Sail - has generated.
General Motors India was aiming for monthly sales of about 2,000 units. Another official of the company had said that GM India plans to double its capacity at its plant in Gujarat to 50,000 units by the end of next year. ''As one of the world's fastest growing vehicle markets, India has a tremendous promise,'' Mr Balendran said adding that ''by making India among the few countries in the world to build and sell Chevrolet Optra General Motors has demonstrating its faith in this market''.
Earlier the company had said that it would break even in the fiscal year to March 2004 as sales of its recently launched cars are booming.
It is also expecting its share of Indian car market to increase from two per cent now to eight to nine percent after a couple of more launches. Bureau Report