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One piece holdem is fodder12/31/2023 ![]() The Wall Street Journal recently reported that GM Korea “last year produced more than 2 million car-kits and vehicles, mostly for export”. While the scale of GM’s Korean operations dwarfs its Australian presence, it is clearly not immune to global auto industry pressures. It seems it plans to consolidate around its Opel and Vauxhall brands. To rein in costs at its plants in Korea, GM recently announced that it would phase out export of its Chevrolet Cruze model to Europe. It now appears to be aggressively repositioning itself in the global automotive industry – a fact that has largely been ignored in the unfolding crisis surrounding the future of Holden in Australia.ĭebate around whether Holden plans to withdraw from Australia reached fever pitch, with Holden boss Mike Devereux telling a Productivity Commission inquiry no decision had been made.īut offshore reporting has drawn attention to major restructuring of GM’s Asian operations. On the back of this public support the auto giant recovered. Its fortunes collapsed along with the US economy, leading the United States government to bail it out as part of an $80 billion automotive industry assistance package. In the wake of the global financial crisis, Holden’s parent company, General Motors was placed on life support.
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