"Yesterday, GMV's (General Motors Venezolana) plant was unexpectedly taken by the public authorities, preventing normal operations," GM said in a statement.
"In addition, other assets of the company, such as vehicles, have been illegally taken from its facilities."
The company said the seiziure would have a devastating effect on GM's 2,678 employees, its 79 dealers and its suppliers.
Venezuela's Ministry of Information has not commented on the seizure.
It comes against a backdrop of growing political and economic instability.
The situation has hit the car industry hard with some automakers barely able to maintain production due to a lack of raw materials brought about by currency controls and stagnant local production.
But car makers are not the only firms affected by the crisis with a number of other multinationals in sectors such as food and pharmaceuticals pulling out of the country.