The Traderszone Network

Published in TZ Latest News 3 May, 2015 by The TZ Newswire Staff

Exclusive: GM set to storm India as Korea costs climb

BEIJING/NEW DELHI (Reuters) – General Motors (GM.N) aims to grab at least 5 percent 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 labor costs have ballooned in recent years.

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