GM to invest $500 million in Brazil, Argentina

[ronald mcretard]

GM to invest $500 mln in Brazil, Argentina

DETROIT, July 18 (Reuters) - General Motors Corp. said on Wednesday it will invest $500 million in its operations in Argentina and Brazil for developing small vehicles for Latin America and other emerging markets.
The majority -- $400 million -- would go to developing a new family of compact cars targeted at the Latin American market. The new cars will be built at GM's plant in Sao Caetano in the greater Sao Paulo area, and in Rosario, Argentina.

Continued at link... http://www.reuters.com/article/topNe...0070718?rpc=44

[Michael_S]

It will be all too funny, and sad, if Toyota cleverly uses its position as a foreign company to dominate the US market and GM uses its position as an American company to dominate the world market.

[ronald mcretard]

Originally Posted by Michael_S

It will be all too funny, and sad, if Toyota cleverly uses its position as a foreign company to dominate the US market and GM uses its position as an American company to dominate the world market.

I'm not sure why you think it would be funny and/or sad. I think it would be good news for GM to improve its worldwide market share.

[rueben44]

Why most of Latin American will be here soon so why build more cars there?

[Realist]

I'm curious as to how and from where GM keeps finding such large amounts of money with which to invest, considering the continued losses coming from the company.

[Tequilujan]

I think that's why they keep "losing" money. Money spent on R&D and other ventures is chalked up in the expense columumn.

[asim]

This sounds like a good idea to me. The Latin America region along with the Southern Asia region are some of the fastest growing automobile markets in the world. 500 million seems like a small amount for this area. lol

[ericmvest]

Originally Posted by Michael_S

It will be all too funny, and sad, if Toyota cleverly uses its position as a foreign company to dominate the US market and GM uses its position as an American company to dominate the world market.

The last time I checked, General Motors sold many more cars and trucks in America than Toyota does.

[Michael_S]

Originally Posted by ronald mcretard

I'm not sure why you think it would be funny and/or sad. I think it would be good news for GM to improve its worldwide market share.

It would be good news for GM to improve its worldwide marketshare.

The sad part is that GM can compete very well globally, but can't compete as well domestically because of health care costs and GM mistakes in the past.

[GMFAN85]

Doesn't seem like a whole lot when you consider that GM invested that much in only one new factory on the grounds of the Tonawanda engine facility. GM has invested over 1 billion dollars in that facility over the past 10 years alone.