Home >Industry >Manufacturing >GM India sales decline 36.56% at 3,619 units in December
The firm had logged sales of 5,705 units in the same month of 2013. Photo: Bloomberg
The firm had logged sales of 5,705 units in the same month of 2013. Photo: Bloomberg

GM India sales decline 36.56% at 3,619 units in December

Demand continues to remain suppressed on account of high interest rates and weak economic fundamentals, says GM

New Delhi: General Motors India on Thursday reported a 36.56% decline in sales at 3,619 units in December. It had logged sales of 5,705 units in the same month of 2013.

General Motors India vice president P.Balendran said “demand continues to remain suppressed on account of high interest rates and weak economic fundamentals. The withdrawal of excise duty benefits is also a big jolt for the automobile industry."

He added “we don’t see any positive movements in the short-term unless the government comes out with some big- ticket announcements in the upcoming budget to revive consumer sentiment."

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.

Close
x
×
My Reads Redeem a Gift Card Logout