Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

TIMELINE-General Motors streamlines its international operations

Published 17/02/2020, 03:29 pm
Updated 17/02/2020, 03:35 pm
© Reuters.  TIMELINE-General Motors streamlines its international operations

Feb 17 (Reuters) - General Motors Co (NYSE:GM) GM.N is retreating from more markets outside the United States and China, saying on Sunday that it will wind down its Australian and New Zealand operations, while selling a plant in Thailand. 1N2AH01O

Here's a timeline of its restructuring moves since 2010.

February 2020

* Announces that it would wind down sales, design and engineering operations in Australia and New Zealand and retire the Holden brand by 2021.

* Signs a deal to sell its Thailand manufacturing plant to China's Great Wall Motor Co Ltd 601633.SS .

* Announces that Chevrolet will cease domestic sales in Thailand by end of 2020.

January 2020

* Announces a deal to sell its Talegaon plant in India to Great Wall Motor, which follows sale of GM Technical Center India to Tata Consultancy Services TCS.NS in September, completing withdrawal from India.

October 2019

* Announces withdrawal of Chevrolet from Indonesia's domestic market by the end of March 2020.

End 2018

* Ceases manufacturing in Vietnam with sale of operations to Vinfast.

* Appoints Vinfast as Chevrolet distributor in Vietnam and licenses small car to the Vietnamese group to product and sell under Vinfast brand.

* Sells South and East African operations to Japan's Isuzu Motors 7202.T and ends sales in India.

* Sells Opel/Vauxhall and GM Financial's European operations to PSA Group PEUP.PA .

* Largely exits Russia market; announces it will cease production of GM-branded cars in Indonesia.

* Announces Chevrolet's exit in Europe by 2015, and ceasing manufacturing and engineering in Australia by 2017.

* Closes its Bochum, Germany assembly plant and sells its Strasbourg, France transmission operations.

* Closes its Antwerp, Belgium assembly.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.