Ticket #3187 (new)

Opened 6 months ago

It’s Like WD-40 For Your Joints

Reported by: "Grease Your Knees" <GreaseYourKnees@…> Owned by:
Priority: normal Milestone: 2.11
Component: none Version: 3.8.0
Severity: medium Keywords:
Cc: Language:
Patch status: Platform:

Description

It’s Like WD-40 For Your Joints

http://goldno.us/akJPQ6b-MscQ8CuEMI0Nroo07TNx-uuUaucX8cEMRT8ab3ogaA

http://goldno.us/Sa68tufyqEuxuyEyJ_GCIgki4HK_EAYb-f_Wv5Q6RrcHxARUUw

M exited the Indian market, which it had entered for the second time in 1996. The first time was in 1928 when it became the first car maker to manufacture cars in India. GM would, however, continue to manufacture cars from its Talegaon, Maharashtra plant for the export market. This plant has a capacity of 160,000 units annually. The older Halol, Gujarat plant with a capacity for 50,000 units stopped production on April 28, 2017. It will be sold, with GM in talks with China's SAIC Motor Corporation Ltd. The India arm's domestic sales for April 2016 – March 2017 declined to 25,823 units from 32,540 the previous year and market share contracted from 1.17 percent to 0.85 percent for the same period. However, exports surged 89 percent during the same period to 70,969 units. GMTC-I, GM's technical center in Bengaluru, India will continue doing its global work. About 400 employees, 8 percent of GM's total Indian work-force, would be affected by the pull-out. Weak product line-up and below
  par service quality were the reasons for the poor showing by GM in India. It will also affect 10,000 employees working with about 120 Outlets/Dealership of GM in India.

In February 2018, comments by CEO Mary Barra that GM's Korean operations' cost structures had "become challenging" fuelled speculation that the company might divest GM Korea, followed by a market exit. GM is currently negotiating a $2.8 billion investment plan for its Korean operations from the South Korean government, to be dispersed over the next decade. Furthermore, the company approached the Korea Development Bank to participate in a $2.7 billion debt swap issued by its Korean subsidiary.

According to the South Korean unit of General Motors, its domestic sales for March dropped by 58 percent, which is more than half compared to the past year. In February 2018, General Motors had said to shut down one factory and then decide what lies ahead for the remaining three plants in South Korea during rising losses there. In recent years, the US automaker pulled its Chevy brand from Europe which wedged GM Korea's exports since it was a major market for the Korean firm.

In 2020, GM withdrew from the Thai market and sold its Rayong plant to Great Wall Mot

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