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General Motors has announced “key restructuring actions” for its international business to increase overall financial health. The move comes as GM is looking to focus capital and resources on opportunities expected to yield higher returns, according to a press release from the automaker.
“As the industry continues to change, we are transforming our business, establishing GM as a more focused and disciplined company,” said Mary Barra, GM Chairman and Chief Executive Officer.
Moving & Shaking
The new plan involves changing GM’s Talegaon manufacturing base in India to produce vehicles for export only. The facility will supply vehicles to Mexico and other Central and South American markets. Chevrolet sales in the region will stop at the end of the year, but GM will support existing customers. In South Africa, Chevrolet will disappear by the end of 2017 as well, but like in India, GM will support existing customers. In South Africa, the biggest moves come with Isuzu, who will acquire GM?s Struandale plant and GM?s remaining 30 percent in the Isuzu Truck South Africa joint venture. Isuzu will also purchase GM?s Vehicle Conversion and Distribution Centre and assume control of the Parts Distribution Centre. At the end of February, Isuzu agreed to purchase GM?s 57.7 percent shareholding in GM East Africa, and like India and South Africa, Chevrolet sales will cease in that market.
“Thes...