(English) General Motors puts $1bn India plan ‘on hold’

General Motors has put on hold a planned $1bn investment in India as it reassesses its strategy in the country.

Its sales in India have fallen nearly 40%, and its share of the passenger vehicle market has also dropped.

A regulatory crackdown on diesel vehicles has also led the company to rethink its plans.

More than 5,000 new cars are sold in India every day – and it is forecast to be the world’s third biggest vehicle market by 2020.

In 2015, Ford committed to investing $1bn (£760m) in India to boost its domestic market share and make the country a global export hub.