General Motors India Private Limited, the country’s fifth largest passenger car maker, has suffered a 14.95 per cent plunge in its domestic sales during March 2013. The American auto maker sold just 9,006 units last month in the country, as compared to the recorded sales of 10,588 units in the corresponding month of 2012 calendar year.
General Motors India’s best selling model happened to be the Chevrolet Beat hatchback, of which 3,006 units were sold in March 2013. The sales of Chevy Sail (both hatchback and sedan models) and Tavera stood at 3,272 and 1,853 units, respectively, during last month in the country. The lacklustre sales witnessed by the company are consistent with the entire Indian auto market, which has been hit by various economic factors, such as inflation, rising finance rates and fluctuations in the foreign exchange. Further, rising fuel prices and political uncertainties have contributed to the slow sales recorded by the Indian auto market. General Motor India’s domestic fleet includes models like Spark, Beat, Sail U-VA, Sail, Tavera, Cruze and Captiva.
Speaking his mind on the recent sales posted by the company, P. Balendran, Vice President (VP), General Motors India Private Limited, was quoted as saying, “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 including high interest rates, high fuel prices and political uncertainties. 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.”