General Motors India has sold a total of 3,619 vehicles in December 2014 against 5,705 units sold in the corresponding period last year.
“Demand continues to remain subdued 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,” said P. Balendran, Vice President, General Motors India.
“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,” added Mr. Balendran.
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