General Motors is retreating from another global auto market.
GM will stop selling vehicles in India, just 2 years after GM said it would pour $1 billion into its India operations. That plan has been scrapped as part of a bigger rethink of global operations. GM is getting out of markets where there are low, or no profits, and concentrating efforts where the payoff is biggest. That’s North America and China.
GM has two plants in India. One will be kept to make vehicles for central and South America, but the other will be sold to a Chinese automaker. GM recently sold all of it’s European operations to PSA, owner of Peugeot of France.