General Motors' sales decline 36.56 per cent at 3,619 units in December
1 Jan 2015 8:55 PM IST
‘The withdrawal of excise duty benefits is also a big jolt for the automobile industry’
GM has recalled 2.6 million of its most popular models to replace a defective switch that it has linked to 13 fatalities (Photo: DC)
New Delhi: General Motors India reported a 36.56 per cent 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."
( Source : PTI )
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