Date
15 December 2017

Opel to exit China market by 2015, paper says

Adam Opel AG, a subsidiary of General Motors Co., has decided to stop selling cars in China by January 2015 after 21 years in what is now the world’s largest auto market, Beijing Business Today reported Monday, citing a company statement. Opel car owners can still get maintenance services and components, along with other rights specified in their purchase contracts, over the next few years, the company said. The surprise move, which marked the second exit from China by a foreign auto brand since Italy’s Fiat SpA in 2007, indicates Opel’s lack of strength in developing emerging markets after years of loss and vague brand positioning, industry insiders were quoted as saying. In 2010 the company said it planned to expand in China, the report said.

– Contact HKEJ at [email protected]

TL/AC/CG

 

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