General Motors India, the Indian arm of the American automaker General Motors (GM) has posted a 17 percent fall in its sales for the month of August 2012. The company sold 7,510 units in the month in comparison to 9,050 units sold in the month of August 2011.
The Chevrolet Beat hatchback led the monthly sales with 4,226 units followed by the Tavera multi-purpose vehicle (MPV) with 2,217 units. The small car Spark sold 530 units in the month while the Cruze luxury sedan and the Aveo entry level sedan sold 337 units and 139 units respectively.
Mr. P Balendran Vice President General Motors India attributed the decline in sales to the sluggish market conditions in the Indian auto industry brought about by high interest rates and frequent hike in fuel prices. He added that the company expects the market conditions to improve as the festival season approaches.