General Motors India today said it will launch an all new mini car in India, with a price tag of over Rs four lakhs by the end of this year.
The mini car, third in the Bi segment from GM India after Chevrolet Spark and U-VA, would also be exported out of India exactly 12 months after the launch within the country, GM India Managing Director Karl Sliym told newsmen here at the launch of LPG version of Spark.
The Indian launch would coincide with the global launch of the mini car he said adding that it would have an indigenous content of over 85 per cent.
He said riding on the success of Spark, which has registered a 25 per cent growth during the first five months of this fiscal, besides contributing to nearly 50 per cent of the total vehicles of 65702 vehicles had sold in the country last year, the company attaches greater significance to the small car segment in India which nearly constituted 40 per cent of the total volume.
He said under the new dispension GM, with 60 per cent ownership with the United States Government would not change its India plans after an investment of over Rs 5000 crores. India would continue to be in the mainstream of its plans.