General Motors Vice-President David Nick Reilly on Monday said, “India will be a major market in our global plans. Of the three-four global launches, the small car is likely to premier in India in the next two years with a price point significantly lower than the Chevrolet Spark, GMC’s cheapest car in India at Rs. 2.8 lakh.”
On the question of whether the small car will compete with Nano on price point, Reilly said, “It (Nano) certainly opened up the discussion in lowering the prices of previously held low-cost cars. But we do not want to come out with a car to compete with Nano.” General Motors also plans to make India the export hub for its small cars. “We are looking to open up new markets for products produced here. There is a significant potential of making the country an export hub in the future.”
GMC is also launching Hummer H3 in India by end of this year. Hummer is currently undergoing homologation to meet the Indian driving standards. Similarly, GM plans to launch its Cadillac CTS sedan in India to further the competition in the luxury segment. GM plans to increase its market share from 3% to 10% by 2010.