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GM May Supply Cars to Australia from South Korea
General Motors Co., which will phase out local car production in Australia in 2017, tells Bloomberg News it is pondering a plan to hike shipments of vehicles to the country from its affiliate in South Korea.
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General Motors Co., which will phase out local car production in Australia in 2017, tells Bloomberg News it is pondering a plan to hike shipments of vehicles to the country from its affiliate in South Korea.
The increase would help utilize the 15%-20% production capacity in Korea freed up by GM's decision to drop its Chevrolet brand in Europe. Those small cars have been supplied by GM Korea.
Last year GM Korea shipped about 40,000 Holden-branded vehicles to Australia and 120,000 Chevrolet-branded models to Europe, Bloomberg notes. Sergio Rocha, who heads the Korean company, says the decision to phase out Chevrolet in Europe will enable the company to shift "lots of money" to invest in new products.
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