Co to drive into ’04 break- even

General Motors India (GMI) is looking at a break-even this year and aims to sell 32,000 units in 2004 with the launch of sports utility vehi...

General Motors India (GMI) is looking at a break-even this year and aims to sell 32,000 units in 2004 with the launch of sports utility vehicle Tavera in June, a top company official said here today.

“We have invested Rs 1,200 crore here (in India),” GMI president and MD Aditya Vij said here today.

The Indian arm of the world’s biggest carmaker, is targetting a three per cent market share this year, plans to sell 50,000 units from its existing product portfolio by 2005, according to Vij.

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“Sixty per cent of our sales will come from the ’Chevrolet’ badge while ’Optra’ will contribute the balance 40 per cent,” Vij said. GMI re-launched its ’Chevrolet’ brand last year with sports utility vehicle ’Chevrolet Forester’ and premium mid-size car ’Chevrolet Optra’. He said the Chevrolet brand would be the “mainstay” of GMI. It will set up a call centre while sales and service network will be strengthened by the year-end.

The number of sales and service outlets would reach 75 and 90 respectively by the end of 2004. The four-week-long waiting list for Chevrolet Optra will also come to an end as production capacity is being augmented at its Halol (Gujarat) plant with an investment of Rs 1,261 crore. The production capacity at the halol plant is being increased to 50,000 units from 25,000 units at present, Vij said. With the hike in production, the waiting list for Chevrolet Optra will come to an end.