BEIJING/NEW DELHI — General Motors (GM) aims to grab at least 5% 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 car manufacturer, which is losing money in India even after 18 years in the country, will unleash a product blitz aimed at reviving sagging sales, and intends making India a new global manufacturing and export hub, taking some of the strain off South Korea, where labour costs have ballooned.As part of a strategic plan to be announced this year, GM will launch newly designed subcompact cars into India, where buyers are shifting from no-frills econo-cars to models offering more room and functionality."India may be the last big white sheet of paper in the automotive industry," Stefan Jacoby, GM’s chief of international operations, said in a recent interview.India’s car market has been steady for the past few years, with annual sales of just...
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