United States (US) car producer, General Motors (GM) announced its plans to exit from Indonesian market by the end of March 2020. But the manufacturer assured will continue to support its existing customers with warranty and after sales service
In official statement, GM Southeast Asia’ president Hector Villarreal, revealed the decision followed a comprehensive review of potential future business plans for GM Indonesia.
These factors have also made GM operations more exposed to broader factors in Indonesia, like softening commodity prices and foreign currency pressures. Recently, GM financial performance was being hit by a major strike of more than 50,000 workers and have potentially cost nearly US$100 million in revenue per day.
