India Inc India Inc: Friday, 19 May 2017 06:35

GM to drive out of India

American giant General Motors (GM) plans to stop selling vehicles in India as part of an overhaul of its global businesses.

“The company will focus its GM India manufacturing operations on producing vehicles for export only,” GM International said in a statement.

The company said the move is aimed at driving stronger financial performance and focus its capital and resources on business opportunities expected to deliver higher returns. GM also said that it will offload its South Africa manufacturing to Isuzu Motors.

GM’s Chevrolet brand will be phased out of both markets by the end of 2017.

GM Chairman and Chief Executive Mary Barra said: “As the industry continues to change, we are transforming our business, establishing GM as a more focused and disciplined company.

“Globally, we are now in the right markets to drive profitability, strengthen our business performance and capitalise on growth opportunities for the long term. We will continue to optimise our operations market to further improve our competitiveness and cost base.”

India Investment Journal’ has in-depth coverage on related topics.

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