Bank Backing Will Help GM's Move Into Growing LCV Market

General Motors India has secured a loan from a consortium of five banks, which in BMI's view will support the launch of five new models in segments offering the best growth potential. Three of the models will be in the light commercial vehicle segment, where a scrappage scheme aimed at the rural market has created growth opportunities, while the remaining two will be the Spark small car and the slightly larger Aveo. BMI estimates the small car segment accounted for well over 1mn units in FY10 and will only continue to grow as more models appear on the

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