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VOL. 41 | NO. 19 | Friday, May 12, 2017
Chevrolet to pull out of India, South Africa
DETROIT (AP) — General Motors Co. is pulling its Chevrolet brand out of India, South Africa and East Africa by the end of this year.
The company will retain its assembly plant in India but will only make vehicles for export. It is selling a plant in South Africa to Isuzu Motors.
GM says the changes will save the company $100 million per year. It will take a charge of $500 million in the second quarter to complete the actions
GM CEO Mary Barra said the company wants to focus on markets that will help its profitability and competitiveness. It also needs to spend more on future mobility projects like autonomous vehicles.
Earlier this spring GM exited the European market, selling its Opel and Vauxhall brands to PSA Group.