The Telegraph
Sunday , February 16 , 2014
CIMA Gallary

GM bets on exports

Calcutta, Feb. 15: General Motors India plans to turn to exports in a big way to shore up flagging sales that had slipped 6 per cent last year, company vice-president P. Balendran today said.

The company exports a small number to Nepal, Bangladesh and Sri Lanka.

In calendar year 2013, GM India sold 86,828 units against 92,435 units a year ago.

“Eighty-five per cent of the cars sold in India are financed. Unless the interest rates get better, the industry will not turn around. We hope the macro-economic situation will improve after the elections,” Balendran said at the launch of the refurbished Beat here.

Balendran said his company expected to grow 8-10 per cent this year with the growth coming from the new Beat and the Tavera.