Gm Pulling Chevrolet Out Of Europe, Holden Out Of Australia?

Autos GM Pulling Chevrolet Out of Europe, Holden Out of Australia? By Jeff Perez | Boldride 14 hours ago Print Of late, Ford has been diving headlong into a global vehicle and branding approach, but it appears that General Motors is going in the other direction. In fact, GMs Chevrolet division is putting the finishing touches on its exit from the European market as we speak. But why is this? If you take a look at what General Motors is doing overseas, youll see that the Chevrolet brand doesnt have nearly as much recognition as its Opel/Vauxhall counterparts. In order for Chevy to see some sort of market growth, the plan is to let Opel/Vauxhall take over European operations, leaving Chevy to the Americas. Initially, this will lead to nearly a $1 billion dollar debt to GM, but in the long run, GM execs are hopeful that this will lead to stronger brand recognition of whats left, and stronger sales. The good news is, there is one Chevy staying in Europe. Yep, the new Corvette Stingray will remain. Head a little farther East though, and more GM news is stirring Down Under. According to , GM is questioning the future of its Holden brand. This news coming after Ford pulled its Australian production only a few months ago. At the moment, GM Australia officials are fighting these claims, saying these speculations are damaging and in the long run could cause 50,000 jobs being lost, if found to be truthful. Right now reports tell us that Holden will stick around, but only until about 2016. Well keep you updated as more information is released. read more

Australia signs FTA with South Korea to boost farm exports

While the agreement will boost Australian farm exports, Abbott said in a statement that some Australian industries, such as cars and automotive parts, may face increased competition from Korean imports. "The FTA secures Australia's position in a major market where competitors like the United States, European Union and ASEAN countries are already benefiting from preferential access," Abbott said in a statement. The pact with Korea is the first such deal secured by Abbott's government following its September election victory, but it wants more with Asian trading partners that buy most of its resources and raw materials, notably Japan and China. The FTA, concluded earlier this week, will come into effect after completing the approval processes in both countries. While Abbott stressed the benefits to all markets, including investment and services, analysts said the greatest rewards would be seen in agriculture. Korea is the third largest buyer of Australian beef and veal, figures from the Australian Department of Agriculture show, and it is expected to import 142,000 tonnes during the 2013/14 season, a rise of 3 percent from the previous season. Before the trade agreement was settled, Australia's beef farmers had become increasingly concerned about losing market share to the United States. "The deal is significant for beef," said Matt Linnegar, chief executive officer of the Australian National Farmers Federation told Reuters from Indonesia. "The differential between Australia and the U.S. stands at about 5 percent... but it would have been 8 percent next year without the deal so we would have been at an increasing disadvantage." The U.S.-Korean FTA came into force last year, which offered a 5.3 percent lower tariff than Australian beef and veal. The tariff on U.S. beef would be eliminated over 15 years. The tariff on Australian beef will also be removed in 15 years. Until then Australian beef will face a higher tariff than shipments from the United States, but farmers said they will remain competitive. browse around this site