Auto News 5

Signs are that GM, sometimes referred to as 'Global Motors', is having a strategic rethink and tactically withdrawing from markets where the chances of making a decent buck, and consequent return to investors, are slim. Only recently, The General finally threw in the European towel: after years of good effort but continuing losses, it announced in March - eve of the Geneva show, no less, it would sell the loss-making European Opel operations to PSA Group in an EUR2.2bn deal expected to close by the end of this year. This week, GM announced cuts to its international operations which it said would save it around US$100m a year.