The Hindu : GM launches Chevrolet SUV

Online edition of India's National Newspaper
Tuesday, Mar 04, 2003

Business

Business

GM launches Chevrolet SUV

By Our Special Correspondent

NEW DELHI MARCH 3. General Motors India (GMI) today launched a sports utility vehicle (SUV), the Chevrolet Forester, even while declaring it would invest Rs. 1,600 crores for expanding its facilities here over the next two years.

The price of the new SUV is Rs. 15.59 lakhs (ex-showroom, Delhi) and will be imported as a completely built unit (CBU) from Fuji Heavy Industries of Japan, which uses the Subaru brand for its automobiles.

Disclosing this here today, GMI President and Managing Director, Aditya Vij, told newspersons that the company would invest Rs. 1,600 crores for technology upgradation at its plant and for recruiting more employees.

He said India had been identified as one of the key growth markets in the region by the U.S.-based parent company, General Motors. With this in mind, he said the Indian subsidiary was stepping up the pace of introducing new products and widening its product portfolio. In this regard, he said GMI would introduce two more cars this year. He said it aimed to sell over 16,000 units during 2003 against 8,000 units last year while sales were expected to rise to 50,000 units by 2005.

The Chevrolet Forester had been designed and built by Fuji Heavy Industries. The SUV would be available in select dealerships from March 10 while the number of dealerships would be increased shortly, he said.

Mr. Vij said vehicles introduced under the Opel brand name would cater to the premium segment while the Chevrolet would focus on mainstream products.

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