Tuesday, July 19, 2005

General Motors plans cheaper Corsa

With an aim to strengthen the brand amongst middle income buyers, General Motors (GM) has decided to introduce a cheaper version of Opel Corsa. The variant, Opel Corsa 1.4 Elite, will be introduced this week with a price reduction of over Rs 50,000-80,000 from the existing ones which are priced in the range of Rs 5.88-6.26 lakh. Todays leading brands by General Motors Chevrolet Optra (Rs 8.7-12 lakh) was launched in September 2003 and Tavera (Rs 6.7-10.80 lakh) in May 2004. General Motors so far has been able to sell about 17,000 Optras and 18,120 Tavera. General Motors has set a target to sell 38,000 Chevrolets by December this year. The aotumobile major is trying to expand its brand equity with Chevrolets. These cars, from the General Motors-Daewoo Automotive Technologies (GM-DAT) stable, are making inroads into Europe and other developing markets such as India wearing the Chevrolet badge.