GM set to storm India as S Korea costs climb

New Delhi

GENERAL Motors aims to grab at least 5 per cent market share in India within the next decade, as it sees that market overtaking Japan as the world's third biggest with projected annual sales of 8 million vehicles by 2025.

The Detroit carmaker, which is losing money in India even after 18 years there, will unleash a product blitz aimed at reviving sagging sales, and will make India a new global manufacturing and export hub, taking some of the strain off South Korea, where labour costs have ballooned in recent years.

As part of a strategic plan due to be announced later this year, GM will launch newly designed subcompact cars into India, where buyers are shifting from no-frills econo-cars to models offering more room and functional…