[amtak]

Originally Posted by blackasta

That should be a billion dollars well spent.

Couldn't agree more. However, from the looks of it, they'll perhaps spend 1 billion in settling dues of employees/management and local politicians/trade unions in-order to shut shop in India.

[SedatedDrive]

I don't know about others but the biggest grouse I had was with the dealership in Chennai. No new all-American product is going to force me to buy from their Chennai dealership again.

[RavenAvi]

General Motors has put a complete hold on all investments on new products for India.

The American auto major has decided to go through a full review of its future product portfolio for our country, and has not specified any particular timeline for lifting this hold on investments.

Safe to assume, it won't be anytime soon.

"...given the shift in customer preferences in India, we are conducting a full review of our future product portfolio and have put on hold future investment in our all-new vehicle family for the market until we firm up our product portfolio plan," a General Motors official spokesperson told PTI.

The company, whose Indian arm has managed to cut its net loss to Rs 1,003.39 crore in 2014-15 from Rs 3,812.46 crore in 2013-14, will now focus on "sustainable profitability" in the country.

"If GM is going to make significant investments, we need to be certain that they will generate significant shareholder value," the spokesperson said in an emailed response. "Moving forward, our priority remains to establish the right business conditions for sustainable profitability."

When asked about the company scaling down Indian operations and downsizing manpower across verticals, including dealer development, sales and marketing, and aftersales, the spokesperson did not comment.

"We are consolidating our manufacturing operations in Talegaon for both domestic market and exports. Exports continue to be an important aspect of our operations in India indeed," the spokesperson added.

ET Auto

[amtak]

Originally Posted by RavenAvi

General Motors has put a complete hold on all investments on new products for India.

The American auto major has decided to go through a full review of its future product portfolio for our country, and has not specified any particular timeline for lifting this hold on investments.

Safe to assume, it won't be anytime soon.

Safe to assume, it is not the time to buy a Chevy car for the next couple of months/years. I saw a Trailblazer only today morning and was thinking it is such a nice car/SUV. They should have got the SPIN and tasted waters.

[avingodb]

I think it does have something to do with the election of Donald Trump as US President. Indian policies on FDI may need revision.

[amtak]

Originally Posted by avingodb

I think it does have something to do with the election of Donald Trump as US President. Indian policies on FDI may need revision.

Don't think so. He is saying that that cars must be built in America to be sold in America. Beat isn't exported to USA.