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General Motors' Sales Decline 37% in December

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General Motors India today reported a 36.56 per cent decline in sales at 3,619 units in December.

It had logged sales of 5,705 units in the same month of 2013.

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General Motors India Vice President P Balendran said: "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."

He added: "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."

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