Mexican Media Brands
GM Likely to Suspend Production in Venezuela
General Motors Co. says in a quarterly regulatory filing it will probably stop making vehicles in Venezuela in July.
#regulations
Share
General Motors Co. says in a quarterly regulatory filing it will probably stop making vehicles in Venezuela in July. The country's automotive output shrank 70% in 2014.
The move would coincide with GM's decision last month to shut down its factory in Russia, another troubled market, this summer.
Last weekend GM obtained permission to lay off 13% of the workforce at its factory in Valencia, Venezuela. The plant makes the Chevrolet Aveo minicar, Orlando compact MPV, Cruze sedan and Silverado large pickup truck.
But a chronic inability to obtain U.S. dollars with which to buy imported parts has hobbled GM along with other carmakers in Venezuela. Ford Motor Co. wrote off its operations in the country at the end of last year.
RELATED CONTENT
-
China Targets 7 Million Annual NEV Sales by 2025
The Chinese government is targeting annual sales of electric and plug-in cars at 7 million units by 2025—nine times last year’s volume.
-
Rage Against the Machine
There have been more than 20 reported attacks against Waymo’s self-driving fleet in Chandler, Ariz., since the company began testing the technology on public roads there two years ago.
-
Dubai to Test Digital License Plates
Next month Dubai will begin testing digital license plates that can display various messages, make payments and conduct other transactions.