General Motors reported a 73% rise in vehicle sales in India in 2004 on robust sales of its Optra sedan [aka Daewoo Nubira] and said it would boost annual capacity to 60,000 units by February.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
According to Reuters, GM India said it sold 26,166 cars in 2004, up from 15,155 units in the previous year, but short of a target of about 30,000 units announced in May.
The news agency noted that GM has been in India since the mid-1990s and produces several variants of the German-engineered Opel Corsa and [South Korean-designed] Chevrolet Optra sedans as well as the Tavera sport-utility vehicle at its plant in the western state of Gujarat.
GM reportedly said its sales in 2004 included 9,191 Optras, which it launched in 2003, 8,369 Corsas and 8,419 units of the Tavera SUV it launched last May.
The automaker has a mere 2.3% share of India’s car industry sales since most of its models are positioned in the mid-size segment, that makes up just a quarter of the market demand, Reuters noted, adding that three quarters of India’s car market is made up of small, low-price hatchbacks where GM barely has a presence.
