Referring to GM’s plans for India, he said, “We need some thing lower than what we have got now. I think if we could find a vehicle less than that, it would not only benefit India but could benefit other places also,” Reilly said, without giving details about prices.
The GM official said the company plans to roll out another product in the mini-car segment in two years. “We have set an internal target of achieving 10 per cent market share by 2010… I am confident that the surge in demand for GM cars in Asia Pacific would outpace the slowdown in North America,” he added.
Reilly said high crude oil prices could lead to demand for small and mini-cars across the world. “We are aware that the automotive industry could change… The small and mini-car market could explode,” he stated.
He said the company would be firm up its plans for setting up a transmission engine plant in next two months. “We are still in some negotiations ... We absolutely intend to go ahead with it, probably in next two months,” he said. The company would consider export of cars from India after it had satiated the domestic demand for its products. We would seek to raise our localization level from present 40-50 per cent to 90 per cent,” he added.
Reilly said the company had been exploring alternative fuel and electric vehicles with other companies. “ No company can do it on its own. We are continually talking to other companies.”