GM India shelves plan to launch Cadillac
Even after getting a strong feedback from market for luxury brand Cadillac, GM India has shelved plans to launch it in the Indian market, a company official said.autos Updated: Aug 04, 2011 15:36 IST
Even after getting a strong feedback from market for luxury brand Cadillac, GM India has shelved plans to launch it in the Indian market, a company official said.
"We have completed a survey on Cadillac and I must say it is having a strong brand recognition," GM India president and managing director Karl Slym said.
Slym, however, said that the company was not willing to sell the Cadillac brand in India which GM owns worldwide.
"We want to focus on Chevrolet at the moment for which GM India had invested a fortune on building infrastructure like plants," Slym told reporters here at the launch of the diesel version of the small car Beat.
Slym said that owing to the twin impact of rising interest rates and hike in fuel prices, the industry growth had slowed down between 10% and 20%.
"However, we will grow double the industry rate. Last year, the industry grew by 30% and GM India grew by 60%," Slym said.
In 2010, the company sold 1.10 lakh units across all the models.
Slym said that within the next 18 months, the company would launch five models including an LCV in all fuel variants. The company was expanding the capacity of Halol (Gujarat) and Talegaon (Maharashtra) plant to 1.10 lakh and 1.7 lakh respectively involving an investment of US$ 500 mn.