GM sales grow 7% in May

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New Delhi, June 2 (UNI) General Motors India today said its sales has increased seven per cent with 5,789 units during May 2008 as compared to 5,432 units in the corresponding period last year.

The sales in May this year comprise of 1,667 units of Chevrolet Tavera, 1,214 units of Chevrolet Aveo, 383 units of Chevrolet Optra, 2,250 units of Chevrolet Spark and 275 units of Chevrolet Captiva, a company statement said.

''The industry has seen some growth primarily driven by new models. However, the overall market sentiment remains sluggish.

The market is also worried because of the steady increase in inflation which has lead to a sudden surge in input costs for all manufacturers,'' GM India Vice President P Balendran said in a statement.

The fear of impending increase in fuel prices, rising interest rates and threat of global recessionary trend are affecting the growth of the sector, he added.

By the end of this year, GM India intends to place 125 sales points and 135 service outlets across the country.

General Motors India is a wholly-owned subsidiary of Detroit-based General Motors Corporation.

UNI SR SG BD1550

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