Chevrolet Aveo should arrive in 2006

Chevrolet Aveo should arrive in 2006

General Motors are planning to launch their much-awaited small car Chevrolet Aveo sometime next year. The expected time is the first quarter of the next year and it should arrive in both the hatchback and saloon version giving the end consumer full flexibility in ordering the product he wants. After that, the company has plans to launch the upgraded model of Matiz, which should set the ball rolling for the world’s largest automaker in the India market.

They have recently announced their decision to pay both lump sum and royalty to GM Daewoo Auto and Technology (GMDAT) of Korea. The amount comes to around $9.4m and it would be paid over a period of three years time. In addition, the company would also be paying a 5% royalty on each vehicle they manufacture in the GMIL’s Halol plant in Gujarat.

The application submitted in the FIPB (foreign investment promotion board) says: “in the present proposal, the company has mentioned that they are only purchasing technology from GMDAT for which it will be paying engineering fee and royalty.”

Chevrolet Aveo would be competing heads on with the Hyundai Getz and Maruti Suzuki Swift in the domestic market. In addition, Toyota is also planning to come to Indian with their Aygo model. This should make the coming years interesting in terms of Automotive in India.