Deflated auto cos turn to local talent to woo Indian market
General Motors has also shuffled its cadre. With the appointment of Maruti Suzuki veteran Rajesh Singh as vice-president for marketing, servicing and sales, the company hopes to make a significant mark in smaller towns and cities with its new mass segment hatchback, sedan and MPV models. Most global carmakers, some of whom have had a local presence for a decade and half, have seen losses accumulate over the years as investments failed to generate adequate returns and competition with incumbents such as Maruti Suzuki and Hyundai intensified. Ford has among the highest accumulated losses in the industry at Rs 1,343 crore, while Skoda saw losses of over Rs 45 crore in FY11 and FY12, according to Registrar of Companies data.
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