GM shuts down Australia, New Zealand operations, divests Thai plant

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GM shuts down Australia, New Zealand operations, divests Thai plant

On Monday, the 17th of February 2020, in an unprecedented turn of event, the United States’ largest automaker General Motor Co. after Ford Motor Corp., had told that the Detroit-based carmaker was looking to half production lines in its Australian and New Zealand plants as a part of its global revamp amid a sweeping downward spiral in passenger car sales across the globe, while the United States’ No.

1 automaker, headquartered on Dearborn, Michigan, had also added that it was going to sell its Thai assembling plant off to China’s Great Wall. If truth is to be told, latest major moves from the United States’ top carmaker came against a baleful backdrop of GM’s money-draining operations, while General Motor’s latest move would likely to ease some of its pressures stemmed off operational expenses from a number of unprofitable businesses.

Nonetheless, following Monday’s (February 17th) statement from the US-based automotive industry tycoon, several analysts were quoted saying that the company’s latest plan to bottleneck unprofitable businesses would make it more depended on US, China, S.

Korean and Latin American markets. Meanwhile, submissively addressing to its loss-making operations in Australia and New Zealand, GM Chairwoman and Chief Executive, Marry Bara said in a statement over the weekend, “GM is “focusing on markets where we have the right strategies to drive robust returns, and prioritizing global investments that will drive growth in the future of mobility”.