Friday, 19 May 2017

US Car Company, General Motors closes shop in South Africa

US car company, General Motors (GM) has announced that it plans to leave South Africa. The firm intends to sell its factory in Port Elizabeth city, where it manufactures its Chevrolet brand, to Japan’s Isuzu Motors Ltd.

The Detroit based company said it is following its strategy of focusing cash and engineering effort on fewer, more profitable markets.

The firm's president Stephan Jacoby said in a statement:

"After a thorough assessment of our South African operations, we believe it is best for Isuzu to integrate our light commercial vehicle manufacturing operations into its African business.

"We determined that continued or increased investment in manufacturing in South Africa would not provide GM the expected returns of other global investment opportunities."

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