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US GM plans to pull out of Australia, New Zealand and Thailand

05:01  17 february  2020
05:01  17 february  2020 Source:   msn.com

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The US-based car-producing giant said in a statement on Sunday that it started scaling down its sales, engineering and design capacities in Australia , New Zealand and Thailand . Markets in these nations will not produce an adequate return of investments, according to General Motors ( GM ).

Australia – New Zealand relations, also referred to as Trans-Tasman relations ("relations across the Tasman Sea"), are extremely close and important.

DETROIT (AP) — General Motors says it's pulling out of Australia, New Zealand and Thailand as part of a strategy to exit markets that don't produce adequate returns on investments.

FILE - This Jan. 27, 2020, file photo shows a General Motors logo at the General Motors Detroit-Hamtramck Assembly plant in Hamtramck, Mich. GM is pulling out of Australia, New Zealand and Thailand as part of a strategy to exit markets that don't produce adequate returns on investments, the company said in a statement Sunday, Feb. 17. (AP Photo/Paul Sancya, File)© Provided by Associated Press FILE - This Jan. 27, 2020, file photo shows a General Motors logo at the General Motors Detroit-Hamtramck Assembly plant in Hamtramck, Mich. GM is pulling out of Australia, New Zealand and Thailand as part of a strategy to exit markets that don't produce adequate returns on investments, the company said in a statement Sunday, Feb. 17. (AP Photo/Paul Sancya, File)

The company said in a statement Sunday that it will wind down sales, engineering and design operations for its historic Holden brand in Australia and New Zealand in 2021.

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New Zealand (Māori: Aotearoa [aɔˈtɛaɾɔa]) is a sovereign island country in the southwestern Pacific Ocean. The country has two main landmasses—the North Island (Te Ika-a-Māui)

Both United and Air New Zealand actually have economy class award availability from their U.S. gateway cities to Australia and New Zealand . While there isn't availability every day for Saver Awards, there is a mix of both economy and business class space out there on United and their

It also plans to sell its Rayong factory in Thailand to China's Great Wall Motors and withdraw the Chevrolet brand from Thailand by the end of this year.

CEO Mary Barra says the company wants to focus on markets where it can drive strong returns. She says GM will support its employees and customers in the transition.

The company said it will scale back operations in all three countries to selling niche specialty vehicles. It also will make the same move in Japan, Russia and Europe, where “we don't have significant scale.”

“We are pursuing a niche presence by selling profitable high-end imported vehicles supported by a lean GM structure,” International Operations Senior Vice President Julian Blissett said in the statement.

GM said it will honor all warranties in the markets, and it will continue to provide service and parts. Local operations also will handle recalls and any safety-related issues, the company said.

Man convicted of killing British backpacker jailed for minimum 17 years .
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