GM India February sales down 20%

General Motors India reported 20.17% decline in its sales at 7,106 units in February 2013. The company had sold 8,901 units in the same month of 2012, General Motors India said.

"Although we have generated the volumes for Chevrolet Sail as expected, the overall numbers inclusive of other models were not on the expected lines as the market continues to remain subdued," GM India Vice President P Balendran said.

With excise duty also going up for certain categories of vehicles, the market is not expected to improve in the coming months also, as the macro economic uncertainties still continue, he added.

Source : Equity Bulls

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