New Delhi sources have stated that senior officials of General Motors, from Detroit and regional office in Singapore are here in India to finalize the India action plan. These officials reached on Tuesday (May 16) and since then they have been deliberating on the situation and options for the company. The American car-maker is likely to announce the next course of action for GM in India on Thursday (May 18).
The beleaguered American car-maker may be winding up its domestic sales here while service support and exports from India will continue and in April, GM stopped production at its first Indian plant at Halol, Gujarat, as part of the consolidation of manufacturing operations in the country. CCI has approved SAIC's plan to acquire General Motors' facility in Halol, Gujarat. MG Motor India, a subsidiary of SAIC will move into Halol, only if pending labor issues are settled.
It was stated that the American car-maker that ruled
as the world's largest automaker for 77 years is on a consolidation spree. GM
lost its number one spot to Toyota in 2008. Volkswagen topped global sales for
the first time in 2016. GM’s president Dan Ammann is keen on keeping only the
profit-making units. It recently, sold the Opel brand in Europe to PSA Group
while several other plants were shut which includes manufacturing in Australia,
Indonesia while investments in Brazil have also been canceled.
GM bought out the Hindustan Motors share in 1999
and continued to produce Opel cars at the Halol facility until 2003. After
2003, GM started producing Chevrolet cars at the Halol plant which is now
expected to be the first plant for China’s first car company in India.
GST not imposed for second hand car sold by an individual New Delhi sources have stated that the Revenue Department had clarified that sale of old jewelry as well as old vehicles by individuals will not attract any GST as the sale is not for furthering any business. Meanwhile when clarifying on Revenue Secretary Hasmukh Adhia's comments yesterday stating that it was informed at GST
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