GM targets 5% market share in India

General Motors' performance in India has constantly seen a downward curve since quite some time now, recording losses even after 18 years in the country. As per Team-BHP's March 2015 figures, Chevrolet captures merely 1.60% of market share in India. The company targets to capture minimum 5% of the market share in India within the next decade.

The American carmaker is said to aggressively launch newer vehicles in the country to re-direct footfall to its showrooms. A compact sedan is being designed for the Indian market which shall offer interior room and functionality as its core competencies. The Trailblazer is also said to hit the showrooms by the end of this year, to take on the Toyota Fortuner, Ford Endeavour and Mitsubishi Pajero Sport. The next generation Beat is expected in 2017.

India is likely to be the company's new global manufacturing and export hub too. This strategic decision comes in after labour costs have significantly spiked in South Korea over the years. Till recently, South Korea comprised of one-fifth of GM's global exports but now the rising labour costs have made the company think otherwise.

GM is likely to export nearly 30% of its annual production over the next few years. It seems that after Nissan and Ford, GM too will focus on exports to remain profitable in the industry.

Source: Reuters