New Delhi, Nov. Nov 1 (IANS) General Motors India sold 4,263 vehicles in October against 7,715 units sold in the corresponding period last year — a drop of 44.74 percent, the company said Saturday.
“Even though the lower fuel prices are encouraging, the market is not showing any movement apart from new entries. Even the festival season did not bring the expected momentum in the market. The turnaround of the automobile sector is still not visible in the short-term,” P. Balendran, vice president, General Motors India, said.
“Industry needs the lower excise duty benefits to be extended till budget and beyond with additional stimulus package in the next budget to boost the overall manufacturing sector, create additional employment opportunities and improve its contribution to GDP,” he added.
The company exported 160 units to Chile during the month.