Focussing more on the domestic market, General Motors has set a target of selling 48,000 units of Chevrolet Sail premium sedan a year in the country.
In Kerala, the company is eyeing sale of 300 units a month, P. Balendran, vice-president (corporate affairs), said.
Balendran, who was here in connection with the launch of the new vehicle, pointed out that the company sold 8,500 vehicles in Kerala last year and the number would go up to 13,500 this year.
He pointed out that the automobile market was sluggish on account of high interest rates, as 85 per cent of the buyers depend on finance in India.
He was of the view that the recent 25 basis point rate cut by the RBI was not enough to boost the market. Until the interest rate comes down, the market will not improve, he added.
Chevrolet Sail, he said, has received overwhelming response in China and the company expects the same in India as well.
Ruling out exports of this model from India, Balendran said the new model is being exported to 16 countries from China.