I Quit – General Motors
Under the pretext of indecent profits and no path for the same, General Motor executives confirmed to end their sales in India. However, the real reason for such pessimism lies deep rooted in the missteps taken by the automotive giant itself.
With a drastic fall in market share from four percent in 2011 to less than 1 percent in the last year, GM’s performance in India has gone from mediocre state to worse eventually. It’s not that the company hasn’t done anything to make a comeback. For this, a proposal of $1 Billion was also made to revive company’s fortune. However CEO Mary Barra and President Dan Ammann, ultimately concluded that GM had worked itself into such a disadvantage that chasing India’s potential was no longer worth.
GM said it will continue to use one of its two plants in India as a low-cost export hub for Latin America.