Automobile: The General Motors one of the biggest brands in the Car manufacturing and making is going to wind up its car’s selling in India.
The automobile market is the most competitive markets in all the sectors, it required constant upgrades and new products needs to be launched as well, in every short span of time. However the General Motors have failed to do so and there have been no major new vehicles launched in recent times.
The GM have less than 1 percent share in the passengers market in India.
Indian market is a loss making market for the General Motors and the Company management have thought to hold in only those countries which makes profit.
General Motors India
The General Motors entered in the Indian market in the year 1995; however the company have never been able to compete with other segment of vehicles like the Hyundai, Toyota, Maruti Suzuki.
The General Motors incurred a huge loss of Rs 1,100 Cr during 2015-16.
Last in 2015, the company also put on hold a $1 billion investment in India.
Company sales in India went down by 21% in 2016-17 to 25,823 units as per catch news.
General Motors manufacturing plant will continue to export to Asian and South American markets.
Biggest problem on Indian job Market
This impact will lead to a big job cut in India. Currently the information technology is already facing a job cuts and winding up of the General Motors will lead to another job issue in India.
You may also like to read our latest analysed news:
- Fake news check: Kashmiri terrorists said that RSS supplied weapons and money to them
- No it is not Varanasi roads but Nanpu Bridge, Shanghai
- Yes Did Rahul Gandhi said congress is a party of Muslims
- Did anyone else see RAF flyby in London It's Coming Home is fake
Note: If you like being among the first to know about latest news, trending hoaxes, fake news etc, consider giving us a like on facebook or follow us on twitter (@myayupp)