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Old 13th January 2017, 20:07   #61
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Default Re: GM India: 2015-16 losses are FOUR times its net worth

They should get the new gen Cruze, at 13.9 lacs ex showroom (not the petrol but the 2.0L detroit diesel with 350Nm of torque, in LTZ avatar). It looks sooper and am sure, lots of guys would stand in queue to get it.
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Old 14th January 2017, 09:41   #62
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Default Re: GM India: 2015-16 losses are FOUR times its net worth

According to reliable sources, Deedi Motors is planning to pull out from their Chevrolet dealership in Kollam & TVM. That's definitely good news considering their poor service quality.
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Old 16th January 2017, 19:35   #63
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Default Re: GM India: 2015-16 losses are FOUR times its net worth

Its no surprise. They have only themselves to blame. They came here before many other car makers. But still they never understood (or simply refused to understand) Indian car market. While other car makers offered good to better and then from better to best cars, GM was hellbent on swimming against the tide (Japanese/Korean to China made cars). They should have taken a leaf out of Ford's book.
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Old 16th January 2017, 19:52   #64
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Default Re: GM India: 2015-16 losses are FOUR times its net worth

GM needs to release products regularly to stay in the market, where is their mini SUV or Sedan or competent hatchback to take on rivals. With obsolete products I am surprised losses are not more.

I doubt people with decision making powers actually listen to gut feelings or have instincts for business at all like the people who started the firm.

I mean all they look at is graphs and slides prepared by some douche with absolutely no interest in cars at all.
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Old 23rd January 2017, 13:49   #65
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Default Re: GM India: 2015-16 losses are FOUR times its net worth

Here's something I came across today, browsing through news.
Though they had already put the USD 1 billion investment on hold last year, there are other interesting bits in the article.
Quote:
"...given the shift in customer preferences in India, we are conducting a full review of our future product portfolio and have put on hold future investment in our all-new vehicle family for the market until we firm up our product portfolio plan," a General Motors official spokesperson told PTI.

This following bit is quite interesting. They were bleeding even more in the 2013-14 with losses to the tune of 3,812 crores, as against 1003 crores in 2014-15.
Seems like the lesser they sell, the lesser are their losses.
Quote:
The company, whose Indian arm has managed to cut its net loss to Rs 1,003.39 crore in 2014-15 from Rs 3,812.46 crore in 2013-14, will now focus on "sustainable profitability" in the country.
"If GM is going to make significant investments, we need to be certain that they will generate significant shareholder value," the spokesperson said in an emailed response.
Quote:
In 2016, GM India more than tripled exports compared to 2015 with 69,390 Chevrolet Beats shipped to Central and South America, the spokesperson said.
Currently, General Motors is in the process to sell its Halol plant in Gujarat to China's SAIC Motor Corporation after it decided to stop production there as part of consolidation of its manufacturing operations in India.
Link to the news
http://timesofindia.indiatimes.com/b...w/56718649.cms

Last edited by vinit.merchant : 23rd January 2017 at 13:52.
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Old 6th February 2017, 13:49   #66
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Default Re: GM India: 2015-16 losses are FOUR times its net worth

I hope and wish GM will introduce fantastic lineup they are showcasing in Transformer series someday in India.

Does the Denali cars comes under GM? Not sure but I have seen GMC on them thought that is General Motor Corporation.
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Old 18th March 2017, 07:58   #67
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Default Re: GM India: 2015-16 losses are FOUR times its net worth

Signs of an up coming exit?When they were supposed to stand up and fight hard, invest more and bring in new products - they have decided to put everything on hold

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GM puts India investments on hold over sluggish sales

France's PSA Could Look At Control Of Cos Talegaon Ops
General Motors has put investment plans in India “on hold“ as the US auto major struggles to make a business case due to constantly declining sales, low production and a portfolio that will shrink to just one model from May .
As the company shuts down operations at its Halol factory in Gujarat from next month, speculation is rife that it may review operations at its Talegaon facility in Maharashtra and could give access of the factory to the PSA Group, the European car major that owns Peugeot and Citroen.

Sources said General Motors is carrying out a thorough review of its India business and a potential partnership with the PSA Group is being seen as one of the options. Talks around India come weeks after the PSA Group, a French auto major, bought out the loss-making Opel division from GM in Europe for $2.3 billion.

When contacted for a comment on talks with the PSA Group, a GM spokesperson said, “We do not respond to speculation. GM India continues to fo cus on consolidating manufacturing at our Talegaon plant.“

A questionnaire sent to a spokesperson of the PSA Group remained unanswered. The PSA Group has also entered into a partnership with the CK Birla Group as part of which it will consider manufacturing cars from Hindustan Motors' plant in Tamil Nadu.

The operations of GM in India have been on a decline over the past few years. Asked to comment on the company's thin product line-up and difficult operations, the GM India spokesperson said, “... global investments in India product programmes are on hold as we conduct complete review of our portfolio. It remains on hold.“ The company said that even as the Beat Mini will be the only car that it will produce in India after the closure of the Halol plant, it has built up “enough supplies“ of the Tavera MPV and the Cruze sedan (whose production will shut down soon) to ensure a diversified portfolio at retail points.

Asked whether the company is planning an exit from India “temporarily“ as it works out a new strategy for the market, the spokesperson said, “We do not respond to speculation. As we have said many times, GM continues to believe in the growth potential of the Indian market and we are currently evaluating our future product portfolio.“

Sources, however, said that things are “not so rosy and (are) really difficult“. Dealers are worried, even as the Indian subsidiary's top management met them as recently as last week to assuage their concerns.
Source: Times of India e-paper
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Old 19th March 2017, 08:13   #68
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Default Re: GM India: 2015-16 losses are FOUR times its net worth

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Originally Posted by roby_dk View Post
Not sure but I have seen GMC on them thought that is General Motor Corporation.
GMC is owned by GM corporation. I've been on the GMC SUVs in the US and they're pretty butch (perhaps too much for Indian roads).

However, as an owner of a Chevy beat, I can't help but feel sad at this state of GM India. The only ones they can blame is themselves and their own marketing department. They came in early, but after the Spark and Beat, did literally nothing to woo the Indian customer, whereas Hyundai and even Ford did better.

This is despite the fact that they have good cars in their stable. My Beat in its 7 years and 50k kms has not had a single issue so far (absolutely none!). It's 1.2 STECH petrol mill is super silent, and was very good in its class when launched. It's 2017, and they're still selling the SAME Beat at the SAME prices and no takers obviously.

Foreign car companies need to understand that Indian market isn't so naive these days and a brand name isn't enough. Show commitment to the customer, prove your service, bring competent products (which need not be cheap), and you will do well.
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Old 19th March 2017, 12:05   #69
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Default Re: GM India: 2015-16 losses are FOUR times its net worth

Given the fact that GM recently sold loss making Opel and Vauxhall to PSA Group, I think GM's Indian operations would certainly be under the scanner of management. Despite investments till date, they are losing sales resulting into held up investments.

An article that I came across

Quote:
Selling Opel will mean GM no longer seeks to be a key player in all the major auto markets, but rather is focusing on cash flow and profitability instead of sales volume.

There are risks to abandoning markets, especially one as large as Western Europe. GM faces a continuing fight to stop losing share in its core markets. At the same time, Barra faces pressure to do even more, with GM's share price -- even after Tuesday’s nearly 5 percent gain -- below the $41 level it had just before she took over the company....
Hope for India ?
Quote:
GM is engineering a new low-cost vehicle lineup for Asia and Latin America with its Chinese partner Shanghai Automotive Industry Corp., a sign of how far Chinese automakers have progressed.
Quote:
Selling Opel would mean GM is setting aside those traditional measures of success to be a smaller company focused on the United States truck market, China and some -- but not all -- the large, growth markets in Latin America and Asia. Under Barra’s leadership, GM has exited Russia and Indonesia after concluding it couldn’t earn acceptable returns on investment.
While there are ways to improve upon the current situation, those measure still would need infusion of capital, something GM's HQ may or may not approve. I think we shouldn't be expecting newer products for India.

Last edited by aaggoswami : 19th March 2017 at 12:07.
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Old 19th March 2017, 13:57   #70
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Wow this is huge! GM is on the verge of exiting India, Fiat as a brand may also shut down, looks like the end of the dream for global auto manufacturers in India!

VW seems to be tying up with Tata to make up some numbers, Nissan-Renault-Mitsu on a grand alliance, Ford-M&M working on something, so clearly no auto biggie is able to survive on their own, except Hyundai and may be Honda and Toyota to some extent.
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Old 20th March 2017, 17:53   #71
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Default Re: GM India: 2015-16 losses are FOUR times its net worth

I would absolutely hate to see GM exit India. I would hate to see Škoda exit India or any other automaker exit India, for that matter!

An exit by any player (even a minor one) would be bad for the Indian automobile market, period. Competition is good! In fact, competition is vital for a free market, or even a free-ish one. The more the number of players there are, the better it is for the Indian market. The more, the merrier it is for us, the consumers.

My aunt has a Spark. Apart from some ergonomic issues for me with the driver's seat, it is a nice little car and has been performing very reliably for a long time. Another cousin has a Cruze AT. It's a torque monster that lives up to its American muscle-car inspired looks.

The Beat is a very capable car. The ol' Tavera is still being bought by taxi operators. I found the Enjoy to be an extremely comfortable cab as well.

Don't be foolish, GM! India is currently the fifth-largest market and has the potential to become the third-largest market over the course of the next few years. As one of the first entrants into a newly liberalised market in the '90s, GM shouldn't even be thinking of exiting India.

There was a time when Chevrolet sold more cars in India than Honda or Toyota. They steadily lost their way since then.

All they need to do is bring in fresh products like the new Beat, new Cruze, Trax/Tracker, next generation Sonic twins etc. It's not that GM don't have the capability or the cars required for the Indian market. They merely lack the will required to being them here, sell them and solidly support them, that's all!

Last edited by RSR : 20th March 2017 at 18:00.
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Old 20th March 2017, 18:02   #72
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Default Re: GM India: 2015-16 losses are FOUR times its net worth

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Originally Posted by RSR View Post
I would absolutely hate to see GM exit India. I would hate to see Škoda exit India or any other automaker exit India, for that matter!

An exit by any player (even a minor one) would be bad for the Indian automobile market, period. Competition is good! In fact, competition is vital for a free market, or even a free-ish one. The more the number of players there are, the better it is for the Indian market. The more, the merrier it is for us, the consumers.
Rather than worrying about the competition here, my worry would be for the owners of the cars, whose manufacturer shuts shop.

Where would they source spares for the same, if the manufacturer shuts shop entirely?
Sourcing even small articles from Aliexpress etc is a slow and time consuming affair.
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