General Motors India (GMI), the fifth largest automobile manufacturer in the country, is all set to foray into the light commercial vehicle (LCV) segment by launching the Indian-made sub-1 tonner pick-up truck soon. The vehicle, to be jointly produced with the Chinese partner, Shanghai Automotive Industry Corporation (SAIC), will compete with similar model pick-up vehicles currently produced by Tata Motors, MAN, Piaggio, etc. The LCV from SAIC enjoys good market demand in China.This was disclosed by Mr. P. Balendran, Vice-President, General Motors India, while addressing the press in Chennai to announce the launch of Chevrolet Beat LPG and introduction of the SMARTECH engine. Since the Chevrolet brand already enjoys a good reputation in India, the LCV will be also branded under Chevrolet.
Asked about its investment proposal, Mr. Balendran told MOTORINDIA that the company has plans to invest $300 million within the next two years on its six new products with 14 fuel variants. This investment would cover the proposed LCV product to be manufactured at the Halol plant. For any new product development under the fully dedicated new platform, the normal investment required is $50 million, and this will most likely be applicable for the company’s LCV project too. Currently, the new product is undergoing trials and is expected to be launched by the end of this year or the first quarter of next year.
Referring to the overall performance of the company, Mr. Balendran said during November 2010, the company achieved a milestone by selling one lakh vehicles per annum for the first time in India. There has also been a substantial increase in the market share of its various models as well as expansion of its sales and service outlets.
