CHEVY PULLS OUT OF INDIA, SOUTH AFRICA, EAST AFRICA MARKETS

General Motors Co. said Thursday says it will no longer market its Chevrolet brand in India — its only brand of cars marketed in India — despite the India market set to overtake Japan as the world’s third-largest in the next decade. It is also pulling its Chevrolet brand out of South Africa and East Africa by the end of this year. The firm will retain its assembly plant in India but will only make vehicles for export. It is selling a plant in South Africa to Isuzu Motors. GM says the changes will save the company US$100 million per year. It will take a charge of US$500 million in the second quarter to complete the actions. GM CEO Mary Barra said the company wants to focus on markets that will help its profitability and competitiveness. It also needs to spend more on future mobility projects like autonomous vehicles.