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Daewoo's India unit April sales down 59.3 per cent

The Indian unit of troubled South Korean car firm Daewoo Motors said on Wednesday the number of cars it sold in April plunged 59.3 per cent from the same month a year earlier to 2,063.

Daewoo Motors India Ltd, which sold 2,287 units in March, is the country's fourth-largest car company and sells the compact car, Matiz and the Cielo and Nexia models in the mid-size car segment.

The company's sales have been hit by uncertainty over the future of its bankrupt parent and weak overall car demand resulting from a slowing economy.

India's overall car sales shrank 7.5 per cent to 590,647 in 2000/01 (April-March) while Daewoo's sales grew 6.8 per cent in the year to 42,960 cars.

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