General Motors has proven that it is not afraid to exit major markets if they are not paying off, and recent comments from management suggest the spotlight could soon fall on South Korea. The manufacturer has already stopped production operations in Indonesia and Thailand. After a prolonged and severe Russian downturn it ended almost all sales in the country. It withdrew the Chevrolet brand from Europe and sold off Opel to PSA. More recently it confirmed plans to stop selling in India and to halt both sales and production of Chevrolet models in South Africa by the end of this year. Korea may be next….
GM Korea speculation resurfaces as management issues ‘sustainability’ warnings
GM's CFO tells analysts that the company is "going to have to take action" to address challenges in South Korea, writes Megan Lampinen