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.
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. “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.
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