General Motors to retire Holden brand by 2021 as it winds down operations in Australia and New Zealand
The General Motors logo is seen outside its headquarters at the Renaissance Center in Detroit, Michigan in this file photograph taken August 25, 2009.
GM Chief Financial Officer Dhivya Suryadevara told analysts during a February 5 presentation that restructuring GM's international operations outside of China so they produce profit margins in the mid-single digits "does represent a $2 billion improvement" compared with 2018's. GM is "focusing on markets where we have the right strategies to drive robust returns, and prioritizing global investments that will drive growth in the future of mobility," especially in electric and autonomous vehicles, GM Chair and CEO Mary Barra said in a statement.
In 2017, Barra sold GM's European Opel and Vauxhall businesses to Peugeot SA and exited South Africa and other African markets.
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