NEW YORK/BANGKOK -- General Motors is retreating from Thailand as part of a broad downsizing of its Asia-Pacific operations, but the entry of Chinese player Great Wall Motor is expected to cushion the blow to the Southeast Asian country.
Weak sales had eroded profits from the Thai and Oceania operations to levels that made it difficult for the Detroit automaker to justify maintaining them. GM will now shift its regional focus to a smaller subset of markets, including China -- which accounts for more than 40% of global sales volume -- and South Korea even as the coronavirus epidemic threatens consumer and business activities there.
