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Jakarta Post

GM to return home amid tight competition in RI car market

  • Riska Rahman

    The Jakarta Post

Jakarta   /   Thu, October 31 2019   /  02:00 am

Indonesia’s sluggish car sales have taken a toll on General Motors (GM), which has decided to stop selling cars in the country after falling drastically behind other carmakers in one of Asia’s largest car markets.The United States-based automotive company announced on Monday that it would permanently halt its vehicle sales in the Indonesian market at the end of March next year.GM’s Southeast Asia president, Hector Villarreal, said in a statement obtained by The Jakarta Post that the decision was in line with the company’s global strategy to focus on markets that had a clear path to achieve a sustainable profit.“In Indonesia, we don’t have a specific automotive market segment that can give us sustainable profitability,” he said on Monday, adding that factors like weakening commodity prices and currency pressures also added to the reasons why it chose to permanently stop its ...