US car maker General Motors has lined up a slew of new launches by year-end, including Multi - Purpose Vehicle 'Enjoy', a top company official has said.
General Motors India President and Managing Director Lowell C Paddock said 'Enjoy' would be the first product from their tie-up with Shanghai Automotive Industry Corporation (SAIC), China.
"We are exclusively announcing the MPV's name in Chennai. It is Enjoy. We will be introducing it by end of this year. It will be the first product from this tie-up," he told reporters after unveiling the Bharat Stage IV version of MUV Tavera Neo.
The car manufacturer had showcased the MPV concept and its hatchback -- Sail -- at Auto Expo 2012 at Delhi earlier this year.
Noting that the vehicle would be manufactured from its Halol plant and engines from Talegoan facility, GM India Vice President (Corporate Affairs) P Balendran said, the company would also introduce its hatchback "Sail" by July.
"We will be introducing Sail in the Indian market by June or July," he said, adding, this product would also be under their association with SAIC.
He declined to reveal the prices, saying it would be announced during launch. Sail is likely to be priced between Rs 3 lakh and Rs 5 lakh range under the premium hatchback segment, competing with Ford's Figo and Maruti's Swift.
On their plan to foray into the Light Commercial Vehicle segment, Paddock said they are evaluating the options. "We are working on our LCV plans. Right now, the focus is on sales for this year", he said.
On the market remaining sluggish, Balendran hoped it would improve in the second half of this financial year.
"See why the market was dull because interest rates are high. RBI hiked the rates 13 times. Second, fuel prices also went high and negative market sentiment is prevailing. About 85 per cent of our vehicles sold are financed. We hope the market will improve in the second half of this year," he said.
He also hoped that with inflation coming down in the recent past, the RBI would cut the interest rates.
Balendran said in 2011 the company sold 1,11,510 units, a marginal increase from 1,10,710 units sold in 2010.
He said GM had sold 1.50 lakh units of Tavera since its launch and hoped it would consolidate their position in the Multi-Utility Vehicle segment.
To a question on whether the present Bharat Stage three version would be phased out, he said it would