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.