General Motors India reports 16 pct sales decline in Jan 2015
The Corporate Social Responsibility (CSR) initiative commemorated National Cleanliness Day. Talegaon employees cleaned the Navlakh Umbre primary school premises. A session on importance of National Cleanliness Day was hosted for school children to highlight importance of cleanliness and hygiene. 65 kilograms of trash was disposed. Dustbins were placed within the school premises. Posters and banners on cleanliness theme were put on display.
For January 2015, General Motors India sold 4,667 vehicles. 5,557 units were sold in January 2014, equating to 16 pct sales decline. P. Balendran, Vice President, General Motors India says withdrawal of excise duty benefits affected sales at the beginning of the year with demand affected. High interest rates and weak economic fundamentals are contracting car purchase volumes.
He says Indian auto industry turnaround is possible only if interest rates are reduced in phases. Government should announce big-ticket reforms in the upcoming budget to positively impact consumer sentiment revival. Such measures will support sustainable long-term growth for the automobile industry. On the product front, Chevrolet Spin MPV has been spotted testing in India. An Adra concept based vehicle could also be offered here .