General Motors India has posted a 21.82 per cent decline in sales at 7,067 units in December 2012.
The company had sold 9,039 units in the same month of 2011, it said in a statement.
“Despite offering various schemes on purchase of every car, the market continues to remain depressed on account of various negative factors, including high interest rates and poor economic conditions,” GM India Vice-President P. Balendran said.
If the current macro-economic uncertainties continue, the market is not expected to turn around in the short-term, he added.
“The only hope now is on a good Union Budget to address some of the concerns of the industry, combined with the announcement of some positive measures to bolster the economic recovery,” Balendran said.