Chevrolet sales slump to a multi-year low following GM's India exit announcement
General Motors' Chevrolet brand saw its worst sales in May in over several years since it entered the Indian market which was sparked by its exit announcement.
- Chevrolet sales in May lowest in a year
- GM announces exit from Indian domestic market on May 18
- Over 600% decline in sales in May from the same month a year ago
General Motors (GM) announced last month that it will stop the domestic sales of its cars in India, but will continue its export operations from the country. GM, that operates through the Chevrolet brand, however said that it will continue its domestic sales till December end this year. It further assured its customers that they will continue its after-sales operations for its existing customer base long after.
The announcement came on May 18, mid month and seems that the news of its exit from the Indian market has resulted in customers choice for Chevrolet cars. This was as the company sold the least number of cars in a year during May.
Chevrolet sold only 361 units during the month of May, according to data from the Society of Indian Automobile Manufacturers (SIAM). This is an over 600% decline in sales from the same month a year ago. It sold 2,615 units in May 2016.
A month earlier in April Chevrolet sold 883 units. This huge drop in sales came after GM made the announcement that it will exit the Indian market. It seems that all assurances regarding its after-sales service did not go to well with customers.
Most of Chevrolet cars posted a large decline in sales during the month. For instance, Chevrolet's highest selling model Beat posted a 97.7% decline in sales in May.
Chevrolet Sail posted a 93.2% decline in sales during the month. Tavera's sales slumped by 66%. Besides this, Chevrolet Enjoy, Sail U-VA and Trailblazer saw no sales during May.
Chevrolet's market share plummeted by nearly half from the previous month. While in April GM's Chevrolet has a 0.32% market share, in May it was down to only 0.15% market share.