Optra sales rise by 73% in India
General Motors Corp, the world's biggest automaker, reported a 73 per cent rise in vehicle sales in India in 2004 on robust sales of its Optra sedan and said it would boost annual capacity to 60,000 units by February.
General Motors India, the wholly owned unit of the US firm and one of 13 auto makers in India, said it sold 26,166 cars in 2004, up from 15,155 units in the pervious year, but short of a target of about 30,000 units announced in May.
GM India has been in India since the mid-1990s and produces several variants of the German-engineered Opel Corsa and Chevrolet Optra sedans as well as the Tavera sports utility vehicle at its plant in the western state of Gujarat.
GM said its sales in 2004 included 9,191 Optras, which it launched in 2003, 8,369 Corsas and 8,419 units of the Tavera SUV it launched last May.
The automaker has a mere 2.3 percent share of India's car industry sales since most of its models are positioned in the mid-size segment, that makes up just a quarter of the market demand.
Three quarters of India's car market is made up of small, low-price hatchbacks where GM barely has a presence.