General Motors India Friday reported a 27.32 percent decline in sales for the last month which stood at 4,726 units from 6,503 units sold in the corresponding period last year.
"The buoyancy in the market is still missing because of high interest rates and high fuel prices. An insufficient monsoon is also affecting sales of small cars in rural areas and tier II cities," said P. Balendran, vice president of the American automobile manufacturer.
"Overall, going by the market scenario, we expect the challenging times to continue till the festival season as the general economic conditions have not improved." Balendran added.
According to the company, sales include 1,563 units of Beat, 1,222 units of Tavera and 812 units of Chevrolet Enjoy.
