General Motors-India is aiming at acquire a market share of 10 per cent by 2010, when it plans to produce two lakh units annually, a senior company executive said on Wednesday.
"GM is serious about the Indian market", which was the "second fastest growing market" in Asia, Vice-President P Balendran said after the launch of the company's premium sportsback Chevrolet SRV.
He maintained that "cyclical global developments" at the corporation would have no bearing on its plans in India.
Balendran said that GM had set a target of 50,000 units in 2006, adding that the capacity at the company's plant at Halol was being increased to 85,000 units from 60,000 units.
Asked about the "mini car" GM planned to launch in India, he said that it was expected in the first quarter of 2007.
"We are working on various options. It will compete with the mini cars already in the Indian market".
"GM is committed to introducing a mini car in India".
Balendran said that GM had made "some profits" during 2004 and 2005, but declined to specify the numbers.
Asked if GM was contemplating increasing prices of its models, Ankush Arora, Vice-President (Marketing) said, "it is under deliberations. We will take a call on it next month".