GM "to halt production" in Venezuela this summer
News follows Ford halting production
General Motors (GM) expects to halt production in Venezuela this summer, perhaps in July, reports the Wall Street Journal, citing a report the company filed with US securities regulators. In the filing, GM reportedly said, "Absent an ability to obtain US dollars in the near term, which we believe is unlikely, current vehicle production will likely cease in July." However, a GM spokesperson is quoted as saying the automaker's "production continues in Venezuela and no decision has been made to cease operations. We continue to work with the Venezuelan government to seek solutions to convert currency."
Thank you for visiting S&P Global AutoTechInsight.
*A subscription to News & Analysis includes four S&P Global-selected sector-specific analytical pieces per month. Access to all analytic pieces across all domains comes with a subscription to All Domains. Please click here to subscribe.
To get access to the AutoTechInsight full suite of services, please contact a sales representative by clicking here.
Already a subscriber? Please log in here
