General Motors India Has Posted a 21.82% Decline in Sales at 7,067 Units

PTI reported that General Motors India has posted a 21.82% decline in sales at 7,067 units in December 2012.

GM in a statement said that the company had sold 9,039 units in the same month of 2011.

Mr P Balendran VP of GM India said that “Despite offering various schemes on purchase of every car, the market continues to remain depressed on account of various negative factors, including high interest rates and poor economic conditions.”

Mr Balendran said that if the current macro-economic uncertainties continue, the market is not expected to turn around in the short term.

He said that “The only hope now is on a good Union Budget to address some of the concerns of the industry, combined with the announcement of some positive measures to bolster the economic recovery.”