GM India March sales down 15%

Zee News (New Delhi) - General Motors India on Monday reported a 14.94 percent decline in its sales at 9,006 units in March 2013.

The company had sold 10,588 units in the same month of 2012, General Motors India said in a statement.

During March 2013, the company sold 3,006 units of Beat, 3,272 units of Sail and 1,853 units of Tavera, it added.

"Despite offering various schemes, the show-room traffic has come down drastically and enquiry conversions are also not taking place. The market sentiment continues to remain subdued due to poor economic conditions and various other factors," GM India Vice President P Balendran said.

High interest rates, high fuel prices and political uncertainties have impacted the sales of automobile manufacturers, he added.

"We are not expecting any improvement in the short term, but there can be some movement during the festival season, which is also possible only if the interest rate comes down and economic situation improves in the coming months," Balendran said.