GM withdraws from Thailand and Australia – and seals the end of Holden
The US automaker General Motors (GM) has announced its withdrawal from Thailand, Australia and New Zealand. The company will sell its factory in Thailand to the Chinese car maker Great Wall Motors and will no longer sell Chevrolet cars there, GM said on Monday.
The decision is in line with the automaker’s global strategy and financial leeway. GM will stop selling 160-year-old Holden cars in Australia and New Zealand, the Melbourne-based car maker announced.
After a thorough review, GM regretted to find that the investments necessary for Holden’s long-term successful development could not be placed above other group global projects, said Julian Blissett, GM’s vice president of international business. GM had already stopped producing Holden cars in Australia in 2017, but sales of imported cars continued in Australia and New Zealand. 600 of 800 jobs are now likely to be lost. (Aeg / SDA / AWP / dpa)