Top car makers Maruti Suzuki, Hyundai and Honda have begun the new fiscal on a high note by posting robust sales in April, riding mainly on new models. However, Mahindra & Mahindra could manage just 1 percent increase in sales and General Motors India saw its sales decline during the month.
General Motors India on Friday reported 31.87 percent decline in sales at 3,612 units in April 2015.The company had sold 5,302 units in the same month of last year, it said in a statement.
This, coupled with the economic slowdown, continues to hold the industry performance in the red and a possible turnaround is still not expected in the coming months, he added.
Commenting on the performance, General Motors India Vice President P Balendran said: "The discontinuation of excise duty benefits impacted the industry during last two months. "Even the Budget announcements are not enough to revive the consumer sentiment".
"The price hike on Chevrolet vehicles built in India ranges from approximately Rs 15,000 to Rs 61,000 depending upon the various models and variants with effect from January 2015," General Motors India Vice President P Balendran said in a statement.
On Saturday, in a much-awaited reform, the government deregulated diesel prices that resulted in a price cut of Rs 3.37 a litre. Retail rates of the fuel will now reflect international movement in oil prices.
The August 2014 sales include 1,305 units of Beat, 1,283 units of Tavera and 688 units of Chevrolet Enjoy, the company said in a statement.
General Motors India is expecting a growth of around eight percent in its sales in North East market this year even as the overall car segment is witnessing a steep fall across the country in the recent months.
General Motors India is hoping that this new MPV (multi-purpose vehicle), the Chevrolet Enjoy, launched today will help it to do well and enjoy more market shares.
General Motors India today reported a 2.39 percent increase in its sales at 8,196 units in April 2013.
General Motors India today said automobile industry is expected to grow by two per cent in this financial year.
General Motors Co has raised its stake in its Indian joint venture with China's SAIC Motor Corp to 93 percent as the U.S. automaker ramps up its presence in a fast-growing market for cars.
General Motors India has sold 8,440 units in the month of November 2011 against 8376 units sold during the corresponding period last year.
The first light commercial vehicle from US automobile giant General Motors will be rolled out in the first quarter of 2012, a top company official said today.
The Indian arm of the American auto-major General Motors is likely to increase prices for the second time this year to offset surging raw material costs.