General Motors India today 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.”