GM to stop selling vehicles in India
General Motors Company used to be the largest carmaker in the world two decades ago but has been withdrawing from quite a lot of markets lately and the latest to be added to the list is India.
GM will continue assembling at its Talegaon, Maharshtra plant to export to international markets. The plant has a capacity of 1,60,000 units per annum. The R&D centre in Bengaluru will be operational as well.
GM has been operational in India since 1918, selling Chevrolets built in a factory near Mumbai. Sadly, the operations were discontinued in 1958 only to return in 1995 with the Opel Astra. The Indian car market on the other hand is on a roll and is expected to overtake Western Europe as the third largest in the world. GM however had a market share of just 1 per cent last year, selling 29,000 vehicles.
After shutting shop in India, GM is expected to close its South Africa operations as well by the end of 2017.