GM & Toyota to manufacture Ultracheap Cars
For millions across the globe it’s all about “living life king size”. Yet there are others who believe in “keeping it simple and small”. And the world’s two largest automakers agree with the latter. GM and Toyota are currently working on ultracheap cars to sell in emerging markets.
The auto giants got the “small car” fever once India’s Tata Motors Ltd. launched their mini-mean-machine which comes with a small price tag. The $2,500 subcompact unveiled by Tata Motors recently is the buzz of the industry. Though late but not lagging the two giants would like to explore the huge market for low-cost/price vehicles. The only hitch (or call it challenge) is the $2,500 price tag, which might pose difficulty.
GM’s Chinese mini-vehicle joint venture, SAIC-GM-Wuling Automobile Co., already is building a car that sells for little less than $3,500. But the Tata vehicle is a benchmark for others to follow as it is an impressive way of meeting demand in emerging countries with the advantage of a small price tag. There is a lot of homework to be done for the giants as they try cracking the so-called “hard nut”.
Jim Queen, group vice president of global engineering (GM) believes that the advent of small cars could bridge the gap in an emerging country such as India from its current transportation system to more expensive cars as wealth increases. The cheapest car in the U.S. is priced at $9,995. The version of the 2007 Chevrolet Aveo is the cheapest of them all. Though the Nano comes with its own set concerns it still is a winner.
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