General Motors to stop selling cars in India

Dhaka,  Wed,  24 May 2017
Published : 18 May 2017, 18:17:40 | Updated : 18 May 2017, 18:26:07
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General Motors to stop selling cars in India

General Motors to stop selling cars in India
BEIJING: General Motors Co will stop selling cars in India from the end of this year, drawing a line under two decades of battling in one of the world’s most competitive markets where it has less than a one per cent share of passenger car sales, according to Times of India.

The decision was announced as part of a series of restructuring actions from the Detroit automaker on Thursday, and marks a significant blow to India’s strategy of encouraging domestic manufacturing.

GM says it would no longer market its Chevrolet brand – its only brand of cars marketed in India – despite India’s promise as a market set to overtake Japan as the world’s third largest in the next decade.

(compiled by Rafiqul Islam)

 
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