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Retail Asia31/10/2018

General Motors Chairman and CEO Mary Barra hinted at visiting Korea soon amid conflict over the spinning off of the Korean unit’s R&D division. If the trip happens, it would be Barra’s first visit to the Korean operations since she became chairman in 2016. GM Korea head Kaher Kazem reiterated the company’s commitment to the […]

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Retail Asia23/10/2018

A GM Korea shareholders’ meeting Friday decided to spin off its R&D and design department, reigniting conflict with its labor union and the state-owned Korea Development Bank (KDB), the automaker’s second-largest stakeholder. “The plan to establish a dedicated engineering unit, GM Technical Center Korea, was approved during the shareholders meeting,” GM Korea said in a […]

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Retail Asia18/10/2018

Satellite operator Intelsat has teamed up with business aviation connectivity provider Satcom Direct to provide in-flight broadband connectivity to business jets globally. Satcom Direct has become the first solution partner and master distributor for Inmarsat’s FlexExec service for the business aviation sector. The company will add FlexExec to its new SD Xperience portfolio. Under the […]

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Retail Asia29/06/2018

General Motors (GM.N) has agreed to transfer its Vietnamese operation to VinFast Trading and Production LLC and distribute Chevrolet cars through the local carmaker, in a move that could help drive up its modest sales in the country. The U.S. automaker will transfer full ownership of its Hanoi factory to VinFast for the Vietnamese firm […]

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Retail Asia05/06/2018

The outlook for Korea’s top automobile manufacturers has started to look up as overseas sales increase. It wasn’t all rosy, however, as GM Korea, which has been struggling to stay afloat since the beginning of the year, saw sales continue to fall. Hyundai Motor, Korea’s top automaker, said Friday its May sales rose 5.7 percent […]

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Retail Asia24/05/2018

GM Korea, the Korean unit of General Motors, will bring in more Chevrolet models produced outside the country if local demand rises, a company executive said Wednesday. “Chevrolet is a global brand. We have a very diverse portfolio. We will make sure that customers in Korea will have access to Chevy models brought from around […]

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Retail Asia17/04/2018

General Motors workers in South Korea forced their way into company executive offices, destroying and removing furniture, shortly after the automaker’s local unit told employees that there will be no bonuses due to a cash crisis. A video posted on YouTube showed about a dozen union members storming the CEO’s office in Incheon on Thursday, […]

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Retail Asia09/03/2018

Mercedes and BMW both sold more cars in South Korea than General Motors for the first time last month, helped by the growing popularity of German premium brands and as consumers shied away from GM after it announced a major restructuring. While home-grown automakers Hyundai Motor and Kia Motors Corp dominate the local market, high-end […]

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Retail Asia17/01/2018

General Motors Co shares rose on Tuesday after the company said 2018 earnings will be largely flat compared with 2017 and forecast higher profits in 2019 when its revamped line of high-margin pickup trucks hits the U.S. market. The 2018 earnings outlook was above market expectations, sending GM shares up about 2 percent in midday […]

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Retail Asia07/12/2017

One of General Motors’s China ventures will recall nearly a million vehicles due to fuel tank problems, the country’s quality watchdog said on Friday, the latest in a spate of major auto recalls in China over the last few months. SAIC-GM-Wuling Automobile Co Ltd is a three-way tie-up between SAIC Motor, General Motors and Guangxi […]

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Retail Asia22/11/2017

General Motors’ Cadillac luxury brand expects its China sales to surge 60 percent in 2017, faster than it had projected at the start of the year, on strong demand from younger buyers, the brand’s country chief said. The GM premium brand, which saw a sharp spike in sales after it opened its first dedicated factory […]

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Retail Asia23/10/2017

Australia’s near 100-year automotive industry ended on Friday as GM Holden, a unit of U.S. carmaker General, closed its plant in South Australia to move manufacturing to cheaper locations. The closure comes a year after Toyota and Ford similarly moved out, eliminating thousands of manufacturing jobs. It adds pressure on the government to help those […]

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Retail Asia21/07/2017

General and Japan’s Softbank Group Corp are among the latest investors in Nauto, a Silicon Valley startup developing software for self-driving vehicles. Nauto, based in Palo Alto, said on Tuesday it closed a $159 million Series B funding round, led by Softbank and venture capital firm Greylock Partners. Previous investors included German automaker BMW and Japanese […]

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Retail Asia05/04/2017

Automakers sold a record number of vehicles during March, with General Motors leading in sales volume and posting its best monthly sales performance since 2008. Overall Canadian sales were driven by an 11.1 percent increase in consumer demand for pickups and sport utility vehicles during the month, which more than offset a 0.3 percent dip […]

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Retail Asia07/03/2017

France’s PSA Group is set to announce a deal to buy Opel from General Motors (GM.N) on Monday after striking an agreement with the U.S. carmaker and winning the blessing of its board for the acquisition. The maker of Peugeot, Citroen and DS cars said on Saturday it would hold an early Monday press conference […]

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Retail Asia08/11/2016

As auto supplier Takata Corp (7312.T) prepares for a possible U.S. bankruptcy filing, potential bidders are poring over a recent U.S. court ruling that could expose a buyer to liability for the company’s defective air bags, sources have told Reuters. Takata faces potentially billions of dollars in costs from the world’s largest automotive recall, stemming […]

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Retail Asia24/10/2016

General Motors Co (GM.N) plans to launch a new SUV production line at its joint venture factory in the Chinese central city of Wuhan during the first half of 2017, the official Xinhua News Agency reported on Sunday, citing company sources. SAIC General Motors (SGM), a joint venture between China’s SAIC and General Motors, started […]

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Retail Asia06/10/2016

GM Korea Co., the local unit of U.S. automaker General Motors Co., said Tuesday its sales dropped over 12 percent from a year earlier last month as both its domestic sales and exports suffered heavy losses. In September, the company sold 45,113 vehicles globally, down 12.4 percent from the same month last year, the company […]

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Retail Asia14/04/2016

According to industry sources on April 10, GM Korea reported 594.4 billion won (US$515.30 million) in operating losses and 986.8 billion won (US$855.48 million) in net losses last year. It is the worst-ever performance since its establishment in 2002. Industry watchers think that it is largely due to 186.9 billion won (US$162.03 million) of the […]

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Retail Asia11/01/2016

General Motors Co. and its joint ventures set a record for retail sales to consumers in China last year, delivering 3.61 million vehicles and the company expects further growth in 2016. The carmaker said Wednesday that China remains the company’s largest sales market, as retail sales rose 5.2 percent from the previous high set in […]

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