The US auto group General Motors (GM) is taking the next steps in the restructuring of the group. The company is withdrawing from more and more markets outside of the United States and China. The company announced that sales, development and engineering would be discontinued in Australia and New Zealand. The Holden brand, long an icon in the Australian car market, will be discontinued in 2021.
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In addition, GM plans to sell the production plant and an engine plant in Thailand to the Chinese car manufacturer Great Wall Motor. The transaction is expected to be completed by the end of 2020.
The group wants to withdraw from markets that are unprofitable for it. Already in 2015, GM announced that it would focus more on its core businesses, lower costs and leave unprofitable car markets. GM is focused on markets “where we have the right strategy for good profits,” said chief executive Mary Barra now.
Funds that become free are to flow more into the development of future mobility concepts, such as electric cars and other alternative drives. GM also focuses outside the United States on the markets where the automaker sees itself well positioned: South America, the Middle East and Korea. In Europe, Russia and Japan, where GM does not hold any significant market shares, the group wants to concentrate on a niche concept and import high-priced, profitable models.
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