Enthused by the encouraging response to its recently launched small car Chevrolet Spark, General Motor India on Thursday said it has set a target to capture 15-20 per cent of the domestic small car market by 2010.
"We would like to have a strong presence in the small car segment in the coming years and are targeting to capture 15-20 per cent of the market by 2010," General Motors India General Manager (Sales) Sumit Sawhney told reporters in Ludhiana on Thursday.
The small car segment accounts for nearly two-third of passenger vehicle sales in India with about 7-8 lakh units sold in the segment each year. It is growing at a rate of 15-18 per cent per annum.
Homegrown auto major Maruti Udyog Ltd (MUL) is the dominant player in the small car segment with over 50 per cent market share. It sells nearly five lakh cars in the segment.
MUL is followed by Korea's Hyundai which sells close to 20,000 units of its small car offerings in a month in India.
Sawhney said the company is targeting sales of 28,000- 30,000 units of its small car offerings -- Chevrolet Spark and Chevrolet Aveo U-VA -- by the end of this calendar year.
"By the end of this year, our small car offerings would contribute 45 per cent to our total sales," he asserted.
Besides Spark and Aveo U-VA, GM India sells Chevrolet sedans Optra and Aveo, multi utility vehicle Chevrolet Tavera and premium hatchback Chevrolet SRV.
The company, which aims to attain an overall market share of 10 per cent by 2010, is targeting to nearly double its sales during the current calendar year to 75,000 units from 38,000 units sold in the previous year.
GM India would expand its dealer network to 115 from the existing 95 by the end of this year and would also expand its servicing network to 140-150 from 110 at present, Sawhney said.