GM to raise price of Tavera, Optra
General Motors will increase the prices by 1 to 2% and will invest Rs 100 crore to hike the capacity at its Halol plant to 80,000 units by next year.india Updated: Nov 07, 2005 13:19 IST
General Motors Indiasaid on Monday thatit will increase the price of its multi-utility vehicle Tavera and premium sedan Optra by 1 to 2 per cent and will invest Rs 100 crore to hike the capacity at its Halol plant to 80,000 units by next year.
"There has been pressure on margins due to which we will be hiking the prices of Tavera and Optra by 1 to 2 per cent," General Motors India President and Managing Director Rajeev Chaba told reporters on the sidelines of conference organised by CII here.
"It is a matter of few weeks," he added.
The automaker will also increase the capacity at its plant in Halol, Gujarat, from 60,000 units at present to to 80,000 units by next year. "It is likely to be completed by next year. We will invest Rs 100 crore for this," he added.
With this, GM's total investments in India will reach Rs 1,400 crore.
Mr Chaba said GM was planning to launch 2 to 3 new models in India next year. "Plans are underway to in a small car," he added.
"The final decision on whether the small car will come through a green field project or any other route will be taken in the next few months," he said.
The company has said it hopes to sell 32,000 units in India this year against 24,000 units last year.
First Published: Nov 07, 2005 13:19 IST