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GM unveils Chevrolet Aveo

Special Correspondent

The sedan is slated to hit the market in March

BANGALORE: General Motors on Saturday launched its new sedan, Chevrolet Aveo, positioned as an entry-level mid-sized car, to compete with Ford Fiesta and Honda City. However, the car is slated to hit the market in March and its price would be determined by the tax structure to be announced in the forthcoming Union Budget.

Announcing this at a press conference, GM India's President and Managing Director, Rajeev Chaba, said the company was targeting 14,000 units of Aveo this year and overall sales close to 50,000 units (Tavera 20,000 units, Optra 10,000) vehicles in the Indian market.

Aveo is the first of three new Chevrolet products debuting in the first six months of 2006; it will be joined by the Aveo U-VA and Optra SRV as part of the "largest expansion of GM India's vehicle line-up in the company's history."

The Vice-President, Marketing and Sales, Ankush Arora, said the market for small segment cars was growing at 18 per cent and, in fact, in January, it had clocked 25 per cent share which held out tremendous promise for car manufacturers. He said last year GM sold 30,837 units, an 18 per cent increase over the previous year.

To meet the sales target, GM would be scaling up capacity of its Halol plant from 60,000 units to 85,000 units annually by the end of this year. The number of sales outlets would go up from 77 to 110 this year.

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