General Motors to exit from the Indian Automobile Market
General Motors (GM) has announced its exit from India by the end of this year, according to a report by Economic Times. The company had been operating in India for more than two decades under the brand name Chevrolet. However, during this span of 21 years, GM could acquire only 1% of the Indian automobile market. GM, through its brand Chevrolet, had ventured into every vertical of passenger car segment including small cars, hatchbacks, sedans, SUVs and others. However, only a few of its models were successful.
GM will continue to export cars made in India from its Talegaon plant that has a capacity to manufacture 130,000 cars per year. In the last fiscal year, GM exported about 71,000 cars from India. These cars would be exported to Mexico and Latin American countries. Its Halol plant in western Gujarat would be sold to its Chinese JV partner SIAC Motor Corp.
General Motors, however, has promised to provide service and spare parts to its current customers even after the company discontinues sales in the Indian market.