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No slowdown in investments in India - GM

The Financial Express reported that General Motors had no plans to slow down on its investments in India, despite the sluggish car sale scenario in the country. Mr Karl Slym President & MD of India operations said that "We have so far invested USD 1 billion in India and there is no question of putting a cap on it." He said that “The global meltdown has impacted the car market in India. However despite the slowdown, the firm had grown at 10% last year and was optimistic of maintaining the growth rate this year as well. A total of 32000 Sparks had been sold last year and it has set a target of achieving around 40,000 during the current calendar year.” Mr Slum said that it plans to release 2 more new models this year, adding that the Cruise Sedan will be rolled out by the middle of this year and the Global Mini Car by end of 2010 an amount of INR 250 crore has been invested into the release of three models this year, which includes Chevrolet Captiva Automatic. Mr Slym said that GM's second plant at Talegoan in Maharashtra had commenced production, while its engine making plant at the same site would be completed by end of 2010.  He added that with the second plant, the problem of capacity constraint had been addressed and the firm was now fully geared up to meet demand.

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