General Motors India has sold a total of 4,320 vehicles in February 2015 against 5,607 units sold in the corresponding month last year.
“The discontinuation of excise duty benefits has impacted the industry during the last two months. Even the budget announcements are not enough to revive the consumer sentiment,” said P. Balendran, Vice President, General Motors India.
“Going forward, car sales will be driven mainly by new entries and we expect the market to gain only momentum if interest rates are reduced in phases to facilitate consumer spending since over 85% vehicles are purchased through financing,” added Mr. Balendran.
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Founded in 1911 in Detroit, Chevrolet is now one of the world's largest car brands, doing business in more than 115 countries and selling around 4.8 million cars and trucks a year. Chevrolet provides customers with fuel-efficient vehicles that feature engaging performance, design that makes the heart beat, passive and active safety features and easy-to-use technology, all at a value. The Chevrolet portfolio in India includes the Spark, Beat, Chevrolet SAIL, SAIL Hatchback, Cruze, Tavera, Chevrolet Enjoy and Captiva. More information on Chevrolet models can be found at www.chevrolet.co.in