General Motors Continues The Global Pullback - Gives Up On Indian And South African Markets

General Motors plans to quit selling vehicles in India by the end of this year and will sell operations in South Africa, the latest steps in a strategy of focusing cash and engineering effort on fewer, more profitable markets.

GM said on Thursday it will take a $500 million charge in the second quarter to restructure operations in India, Africa and Singapore. It will cancel most of a planned $1 billion investment to build a new line of low-cost vehicles in India.

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TheSteve - 5/18/2017 12:54:21 PM

+1 Boost

It's not just GM. Keep your eyes open and you'll see other signs of a global auto sales slowdown, and companies restructuring to remain profitable. And that might mean making the hard decision and pulling out of weak markets that don't show promise of strengthening.

MDarringer - 5/19/2017 12:22:31 AM

+1 Boost

GM has never been huge in either market so pulling out to focus on the USA and China makes sense. GM can always buy Suzuki later.

skytop - 5/21/2017 11:19:51 PM

0 Boost

Notice that GM does NOT affix the "Mark of Excellence" to any of its cars or trucks any longer. GM the corporate entity, is not proud of its products any longer and believes the public's dislikes and disregards the GM name after its miserable bankruptcy debacle.

MDarringer - 5/21/2017 11:29:51 PM

+1 Boost

You need an enema because you're full of it.