Thailand : GM Thailand boosted by US bailout

BANGKOK : January 21, 2009 - The US government's approval of a financial package of US$13.4 billion for General Motors will enable GM Thailand to move ahead with regional plans and reassure customers of its viability, said Steve Carlisle, president of General Motors Southeast Asia Operations Ltd and Chevrolet Sales (Thailand) Ltd.


He said GM Thailand's plans include continued development of auto technology and a restructuring to ensure long-term viability, global competitiveness and energy efficiency.

"Besides our clear strategic direction, other creative initiatives will be implemented to boost sales, enhance production performance and control all unnecessary expenses. We also aim to create flexibility in our working system by rotating tasks and assignments," he said.

Despite the financial crisis in the second half of the year, GM had record sales in Asia Pacific in 2008 and outperformed the industry as a whole.

Growth was led by China, which set a company sales record. Sales also rose in India, Japan and parts of Asean, which enabled GM to be profitable in the Asia Pacific region in 2008. For Asean, GM posted sales of 32,023 last year compared with 29,255 in 2007, a 9.4% increase.

Last year also saw positive results for GM Thailand, which had sales of 23,343, up 9.9% on 21,240 in 2007.

In 2009, GM Thailand and Chevrolet Sales (Thailand) has said it will focus on implementing a suitable marketing plan for the slowdown, enhancing its aftersales service and developing products to meet the requirements of Chevrolet owners.

"GM Thailand and Chevrolet Sales (Thailand) has in plan a series of measures to help us make it through the current global economic crisis with a strong focus on cash conservation and cost reduction," said Mr Carlisle.

"We continue to emphasize quality, safety and cost, which are important aspects for creating a stable future for our company and our stakeholders. In 2009, Chevrolet plans to develop every aspect of our business and continue to play a leadership role in the alternative fuel vehicle market."

[Source : Bangkok]