Australian regulator lambasts GM Holden over withdrawal

Australian regulator lambasts GM Holden over withdrawal

Nov 26, Reuters - The Australian competition regulator lambasted U.S. carmaker General Motors' local unit over its abrupt withdrawal from the market last year, but opted to take no formal legal action against it, the regulator said on Friday.

The Australian Competition Consumer Commission said its investigation into GM Holden Australia's treatment of its dealers left it with concerns but decided not to pursue it after dealers accepted compensation, while others opted for private legal actions.

The USGm markets-idUSKBN 20 B 04 X announced plans to wind down its antipodean operations as part of the restructuring of its global business.

The regulator said in a statement: "Hen's dealers claimed that the local unit was aware of withdrawal plans months before the public announcement, and encouraged dealers to continue to invest in their dealerships. media-release accc completes investigation-into holden E 2% 80% 99 s-conduct toward-dealers.

The behaviour of Holden has hurt the General Motors brand in Australia, and perhaps beyond, said Rod Sims, ACCC Chair.

The ACCC is examining whether Holden's car servicing deals raise any issues under Australian Consumer Law.