GM India lays roadmap for LCV launch

GM India, through its JV with SAIC in China has finalized the time frame to roll out the 1 tonne capacity LCVs on Indian road by end of 2011. Presently GM has presence on car market in India. Last couple of years has been tough on GM but end of 2009 and 2010 has been cheerful with the launch of its new Beat.

The JV has been news for quite some time now by inducting senior executives of SAIC on to GM Indian board. After it’s successful stint in China, GM seems to be trying to exploit its relationship with SAIC to expand its offerings beyond car market in India.

Sumitomo hikes stake in Swaraz Mazda

Sumitomo the majority holder with 53.52% stake in Swaraz Mazda increased its stake by another 1.11% through rights issue. With the LCV market clocking robust growth in last 2 months, the move would help consolidate its financial position to meet its capacities needs. Swaraz Mazda that is a minor player in LCV (transport and passenger) domain with about 5% share is seeing tough competition from the CV makers TATA and M&M with new models entering the market.

Swaraz Mazda started with Punjab tractor, Mazada and Sumitomo consortium and going public in 1985. Later Both Mazda and Punjab tractor sold their 15% stake to Sumitomo.