GET SET FOR INDICA SPORT: Tata Motors is also planning to come out with new variants of its Indica and Indigo -- Indica Sport and Indigo Estate -- in 2004.

The company, which has a 16 per cent share in the passenger car market, has plans to increase its production capacities by 50 per cent to 225,000 cars per annum.

The company, which is on the verge of acquiring Daewoo's commercial vehicle plant in South Korea, has also seen its exports surging, following its tie-up with United Kingdom's M G Rover to supply 1,00,000 Indica cars in the next five years.

In December, General Motors India launched Chevrolet Optra 1.6, costing Rs 729,000 and Optra 1.6 LS, costing Rs 789,000. The major players in the lower C segment are Honda City, Hyundai Accent Tornado, Baleno and Mitsubishi Lancer. General Motors has plans to launch a new multi utility vehicle Isuzu Panther rechristened as the Chevrolet Tavera in 2004.

Tata Motors plans to hike the prices of Indica in January 2004.

Photo: Tata Motors Web site