GM re-evaluates planned US$1b investment in India
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New Delhi
GENERAL Motors (GM) is re-evaluating its planned US$1 billion investment in India and has put on hold moves to bring a new car platform to India as it re-assesses its strategy in the country, according to company officials.
The rethink comes as GM's India sales have fallen nearly 40 per cent in the year to end-March, and its share of the domestic passenger vehicle market is now below one per cent. Sagging sales and a regulatory crackdown on diesel-powered vehicles are now forcing GM to redraw plans.
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