GM’s bankruptcy filing and the downturn in the global vehicle market will delay its plan to buy auto parts worth about US$1bn a year from India by 2010.
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GM’s local boss, Karl Slym, told Dow Jones Newswires in an interview that GM sourced about US$500m of auto parts from India in 2008. The auto maker buys components such as casting and machining parts from Indian suppliers, Dow Jones reported.
“The efforts will still continue but I am not sure of the actual timeframe because of the different ownerships of some of those parts of GM and also because of the overall decline in volumes,” Karl Slym told Dow Jones.
“The volumes on an annual basis are going to be lower at least for a period of time while the economy recovers in the US,” he said.
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