General Motors Co on Tuesday said it plans to sell its majority ownership stake in General Motors East Africa to its Japanese partner Isuzu Motors Ltd, as the US carmaker continues to streamline by exiting non-core operations. Isuzu will acquire GM’s 57.7% stake in the unit in Kenya, which produces trucks under the Isuzu brand and sells imported Chevrolet-brand vehicles. More than 90% of the vehicles sold are Isuzu brand models. The Kenyan vehicle market is tiny, with total sales of about 30 000 vehicles a year.
Source: www.engineeringnews.co.za
GM plans to sell stake in East African unit to Isuzu
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