GM India sales decline 36.56% at 3,619 units in December1 min read . Updated: 01 Jan 2015, 03:26 PM IST
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."