Despite the financial crisis, General Motors said it would launch its luxury sedan, Cruze
, followed by a small car, in the next financial year in India ."Our India plans remain intact and investmentswill continue as announced earlier. The company's marketing investments will be as per plan," General Motors India Vice-President (Marketing, Sales and After-Sales) Ankush Arora said.
He said that its luxury sedan Cruze, expected to be priced in the range of Rs 11-15 lakh, would be introduced during June-July, 2009.Also, the company plans to roll out a mini car from its Talegaon facility.He, however, declined to give details about the small car saying the company plans to launch it by the end of 2009 or early 2010. Answering to the query , the company in the US on the verge of filing for bankruptcy a 'speculative' one, he said: "Our global head has recently said that bankruptcy is not an option."When asked about the slowdown in the automobile industry, Arora said: "The next two months are very challenging. This calender year, the industry is expected to achieve a single- digit growth of about seven per cent."