Chennai, May 1 (IANS): The Indian subsidiary of US automobile company General Motors closed last month with total sales of 3,612 units.
In a statement here on Friday, General Motors India said it sold 3,612 units last month -- down from 5,302 units sold in the corresponding month last year.
"The overall customer sentiment has not picked up as expected and the rural markets are also facing challenging times. The fuel price hike last night is also expected to impact demand going forward," said P. Balendran, vice president.
"We expect the interest rates to be reduced in phases and some of the reform-oriented announcements made by the government to be implemented in a timely manner to aid economic recovery," Balendran added.