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GM Invests $450 Million in Argentina
Auto News ^ | 10/24/12 | Auto News

Posted on 10/25/2012 7:28:22 AM PDT by mgist

GM announced its plans to invest $450 million in its Rosario Automotive Complex, Argentina, to manufacture an all-new global Chevy car.

“We are pleased to be making this investment in Argentina, which remains a very important market for us,” GM Chairman and CEO Dan Akerson said. “We have a long, proud history here dating to 1925 and our latest investment is certainly good news for our GM Argentina employees, our extensive dealer and supplier network and the local economy.”

The investment at the Rosario Automotive Complex will be made between 2013 and 2015. Last year the Rosario plant manufactured more than 136,000 vehicles, and this investment will add new vehicles for export and new models to be added in Chevrolet’s portfolio for customers and dealers in Argentina.

According to GM this new model will be based on a global platform and will give the automaker the possibility to offer the domestic and regional market more high-quality, high value Chevrolet products. Last year GM Argentina sold 136,323 units, manufactured 136,466 units and exported 82,492 vehicles to countries in the region. The Rosario Automotive Complex has 3,300 employees in Alvear and Buenos Aires.


TOPICS: Business/Economy; Foreign Affairs; Government
KEYWORDS: gmargentina
Somebody explain this to me???
1 posted on 10/25/2012 7:28:25 AM PDT by mgist
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To: mgist
Q: Somebody explain this to me???

A: The American Auto Industry is BACK!!

2 posted on 10/25/2012 7:30:51 AM PDT by ProtectOurFreedom
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To: mgist
. . . and pretty soon you're talkin' real money ... OUR MONEY !
3 posted on 10/25/2012 7:31:02 AM PDT by tomkat
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To: mgist

Somebody explain this to me???

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Simple.

Øbama says he opposes outsourcing US jobs to other countries. He lies. This story is ample proof of that.


4 posted on 10/25/2012 7:32:27 AM PDT by Responsibility2nd (NO LIBS. This Means Liberals and (L)libertarians! Same Thing. NO LIBS!!)
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To: mgist

Buy American.

Now.


5 posted on 10/25/2012 7:33:08 AM PDT by Cringing Negativism Network (America doesn't need any new laws. America needs freedom!)
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To: mgist

Yeh.....More jobs for Argentina!!!


6 posted on 10/25/2012 7:34:57 AM PDT by Sacajaweau (r)
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To: mgist

They dont have money to pay back the emergency loan to keep them from going bankrupt, but have a spare half a billion hanging around to invest in making an auto factory in Argentina.

Cause we all know you can ship from Argentina where ships dont port in the USA.

Glow Bull ism


7 posted on 10/25/2012 7:35:33 AM PDT by American in Israel (A wise man's heart directs him to the right, but the foolish mans heart directs him toward the left.)
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To: Responsibility2nd

Every speech in support of Romney in Ohio should begin with this news article.


8 posted on 10/25/2012 7:35:49 AM PDT by Mouton (Voting is an opiate of the electorate. Nothing changes no matter who wins..)
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To: mgist

Obama works on the assumption that business needs government.

Romney works on the assumption that government needs business.

Corporations do not need to suffer the fools of government.


9 posted on 10/25/2012 7:37:11 AM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: mgist

One socialist redistributing our money to another socialist crony.


10 posted on 10/25/2012 7:38:15 AM PDT by Jane Long (Soli Deo Gloria!)
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To: Cringing Negativism Network
Buy American. Now.


11 posted on 10/25/2012 7:39:55 AM PDT by 1rudeboy
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To: Jane Long

grrrr!


12 posted on 10/25/2012 7:41:29 AM PDT by mgist
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To: Sacajaweau
Not only Argentina.

Here too.

13 posted on 10/25/2012 7:42:06 AM PDT by trublu
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To: mgist

It is really simple.

Global companies make global investments to develop or grow companies abroad.

GM senses an opportunity to grow the Argentinian/South American market and must make an investment in manufacturing to accomplish the goal.

It is not an exportation of jobs. To make that assumption one must assume there are people holding those jobs presently. That is not the case. To be competitive, it is necessary to build the cars in the foreign location. The venture might result in an increase in American jobs required to support the foreign operation. There might also be export of American made parts to the facility.

I can not say if it is a good venture or a hail mary attempt to grow in the face of impending domestic failure. For most companies it is sound business


14 posted on 10/25/2012 7:43:33 AM PDT by bert ((K.E. N.P. N.C. +12 ..... Present failure and impending death yield irrational action))
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To: trublu
Lest we forget.

Here

15 posted on 10/25/2012 7:43:52 AM PDT by trublu
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To: bert

Agree completely. But that’s not how the other side paints it when they are trying to demonize an opponent.


16 posted on 10/25/2012 7:45:14 AM PDT by trublu
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To: mgist

Dan Akerson was appointed CEO by Obama.


17 posted on 10/25/2012 7:45:14 AM PDT by mgist
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To: mgist

“Somebody explain this to me???”

I wish I could but I’m too busy banging my head on my desk.


18 posted on 10/25/2012 7:47:34 AM PDT by angelsonmyside (Someone please send the Loser in Chief a "President For Dummy's" book.)
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To: trublu

GM already has a big new plant there in Rosario... I drove past it last month.

Ford also has HUGE new factory near Salvador, Brazil.

People down there pay a LOT for cars... good business to be in, if you’re selling them.


19 posted on 10/25/2012 7:48:57 AM PDT by SomeCallMeTim ( The best minds are not in government. If any were, business would hire them)
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To: bert

I would normally agree with it being practical for companies to go overseas, but these jokes went bankrupt! They were given billions of our tax dollars and haven’t paid it back.

Argentina is NOT business friendly. This is Kirshner’s Argentina: http://www.youtube.com/watch?v=ckpQFIro2C4&feature=youtu.be


20 posted on 10/25/2012 7:49:38 AM PDT by mgist
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To: mgist

People in Michigan and Ohio need to post this story to their Social Media pages. There is still time to change both of these states. These are the kinds of things that can change minds.


21 posted on 10/25/2012 7:57:32 AM PDT by kempster
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To: mgist
Somebody explain this to me???

It's simple. Obama takes over GM, gives them hundreds of millions of dollars which were obtained by indebting US taxpayers now and for generations. GM sends the money to Argentina to build a plant which Kirchner will presently nationalize. That is, Obama caused the US taxpayer to become burdened with massive debt to give Kirchner a free auto plant.

22 posted on 10/25/2012 7:59:18 AM PDT by Paine in the Neck (Socialism consumes everything)
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To: mgist

this is an Obama-driven reward (he does control the lions shae of GM) to the socialist government in Argentina, because, if it were merely about investing for expanding production and sales in South America, Argentina is likely the worst of the South American states for such investment


23 posted on 10/25/2012 10:55:44 AM PDT by Wuli
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