General Motors India sales down in Dec

Posted on 3rd Jan 2015 06:30 pm by ram kishor

Chennai, Jan 1 (IANS) General Motors India Thursday said it closed last month selling 2,086 units lesser then what it sold in Dec 2013.

In a statement issued, the company said it sold 3,619 vehicles in Dec 2014 against 5,705 units sold in corresponding period last year.

"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," P. Balendran, vice president was quoted in the statement.

"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," he added.

Other news

'No matter how broken I feel...' Smriti Mandhana reveals her mindset after her wedding was called off.

Indian women's cricket team vice-captain Smriti Mandhana made her first public appearance since h

Asia Cup: Despite his success, Suryakumar Yadav's form has raised concerns for India. Is he facing the pressure of captaincy?

The Indian team has entered the final of the Asia Cup 2025 after winning five consecutive matches

After Rajpal Yadav's surrender, his wife Radha spoke for the first time, giving this statement about the Bollywood industry.

Rajpal Yadav, embroiled in a ₹9 crore cheque bounce case, surrendered at Delhi's Tihar Jail on

SC Relief to Ramdev in new 'Honeymooon Remark' cases

New Delhi, Feb 2 (IANS) The Supreme Court Monday stayed another set of criminal proceedings ini

Piyush Goyal In US: Piyush Goyal discusses Startup India initiative, urges Indian diaspora to increase their reach to global markets

Union Minister of Commerce and Industry Piyush Goyal is on a six-day visit to San Francisco and L

Lashkar-e-Islam is sending threatening letters to Kashmiri Hindus, leave Kashmir or else you will be killed

Efforts are being made once again to take Kashmir back to the 1990s. Amidst the deteriorating sit

Azad, Six others file papers for RS polls in Kashmir

Jammu, Jan 28 (IANS) Seven candidates, including Congress leader Ghulam Nabi Azad, Wednesday fi

At Anant Radhika's wedding, Ibrahim Ali Khan started following the international singer like a stubborn fan and started asking for something precious

Mukesh Ambani's younger son Anant Ambani married his childhood friend Radhika in a four-day-long

Income Tax: Benefit of up to Rs 17500 in the new tax system, these big changes from standard deduction to slab

The full Union Budget for the financial year 2024-25 was presented in the Lok Sabha on Tuesday. F

ISRO AzaadiSat: ISRO will launch AzadiSat next week, 750 girl students made this satellite

ISRO AzaadiSat Update: To mark the 75th anniversary of independence, AzadiSat, which is being pre