General Motors sold 9,006 vehicles in India during the month of March 2013, down 14.9 percent from the 10,588 vehicles sold during the same period the year before.
“Despite offering various schemes, the showroom traffic has come down drastically and enquiry conversions are also not taking place”, said Vice President, General Motors India Mr. P. Balendran. “The market sentiment continues to remain subdued due to poor economic conditions and various other factors including high interest rates, high fuel prices and political uncertainties.”
As such, it would seem that the near future doesn’t hold much promise for an uptick in sales, but there might be light at the end of the tunnel:
“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”, Mr. Balendran added.
The GM Authority Take
The General is hoping that 2013 will be better than 2012, but so far this year is proving to be worse than the last. The good news is that GM still has the second part of this year to improve sales, but India’s somber economic outlook definitely isn’t helping.