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General Motors to invest $5 billion in Mexico
Reuters
By Joanna Zuckerman Bernstein
Thu Dec 11, 2014

(Reuters) - General Motors will invest $5 billion in Mexico to double its production capacity at its plants around the country, Mexican Economy Minister Ildefonso Guajardo said on Thursday.

"With this investment, General Motors will double its production capacity of vehicles, engines and transmissions," Guajardo said at a news conference in Mexico City.

Of the $5 billion, $1.4 billion has already been spent, Ernesto Hernandez, president and managing director for General Motors Mexico said, leaving $3.6 billion to be invested over the next four years through 2018.

The money will go toward expanding General Motors' four manufacturing complexes in Mexico, modernization of production lines and technological advances in autos and auto parts, Hernandez said.

*Full Article at Link
 

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Great news. Hopefully these investments will enable General Motors De Mexico, S. DE R.L. DE C.V. (GM Mexico), to ramp up its growth rate in both overall production and exports. As the article mentioned, the auto industry as a whole in Mexico grew faster on those measures than GM Mexico did YTD in 2014.
 

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GM is still totally tone deaf. This news won't play well anywhere outside of the tubes and Mexico. General Motors has never paid back the American government and the rationale for printing all that money and giving it to GM was that they create jobs and benefit the economy. Well, where exactly do they create jobs? I think GM owes it to the American people to invest in America first. Mexico's next generation isn't on the hook to pay back money given to GM but America's kids are.

Very disappointing and very tone deaf as to how this will be interpreted across the country. A giant slap in the face comes to mind.

I know numerous people who won't even consider a GM product because of the bailout. This isn't going to help them get over it.
 

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Sellouts.. this may make me start to look at companies creating jobs here not taking them away when i need to replace our lease in 18mos!!!!!!!!!!

why GM? WHY very disappointed in your decision here. shame on them. taking a bailout by the AMERICAN TAX PAYERS and "fixing up" their company then heading for the hills... OBAMA you paying any attention to this???? Keep this in mind for "next time" remind your predecessor what they did to us... sick and tired of this same old story.. other car companies from over seas open plants here, invest billions and our companies leave... so ass backwards
 

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Guys, GM is a global company and has plants everywhere. To think that GM will produce all their vehicles here in the US for the entire world is a little silly and naive on your part.
GM is going to invest money in plants around the world because they make cars around the world.
 

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So glad they're using the bailout to create American jobs. :mad:
Cool your jets.

1. They've expanded Lansing and other plants in the US.

2. It wasn't a "bailout", the Feds literally bought General Motors at bankruptcy to avoid having to pay many times over GM's purchase price in Federally guaranteed pension insurance, health care coverage, and what would have actually been multiple state bailouts and likely a full blown economic depression.

3. General Motors is no longer owned by the Feds, it's been a publically traded private company for a couple of years now.

Sorry, it just bugs me when someone reverts back to that tired old "bailout" nonsense.

This is awful news. Why isn't this investment going to the US or Canada?
Again an utterly stupid comment.

Last time I checked, Canada wasn't part of the United States, but to you it's OK to export jobs there, but not export them to Mexico?

GM is still totally tone deaf. This news won't play well anywhere outside of the tubes and Mexico. General Motors has never paid back the American government and the rationale for printing all that money and giving it to GM was that they create jobs and benefit the economy. Well, where exactly do they create jobs? I think GM owes it to the American people to invest in America first. Mexico's next generation isn't on the hook to pay back money given to GM but America's kids are.

Very disappointing and very tone deaf as to how this will be interpreted across the country. A giant slap in the face comes to mind.

I know numerous people who won't even consider a GM product because of the bailout. This isn't going to help them get over it.
Being that GM is selling more cars than ever, making more profit than ever, and is running a successful business without them, my own personal raw opinion is that if there's anyone out there who still refuses to buy a GM product simply because of a misunderstood perception of what actually happened, then screw them! They can go jump off a cliff or go buy a Toyota. IMHO there is no lower form of automotive buyer.

If GM is building better cars and trucks, is a profitable AMERICAN company, and thanks to government intervention GM and it's hundreds of thousands of workers along with vendors and entire communities (and even entire states) are earning a living and paying their fair share of taxes instead of being dependent of actual government handouts, welfare, and generosity, then only bloody idiots are refusing to accept that this worked in every way imaginable. To be perfectly frank, I question if they're even intelligent enough to set foot in a Chevrolet showroom..... and I seriously doubt they even grasp the concept that the brown part of their underwear goes in the back and the yellow in the front because they obviously aren't smart enough to wash them....the underwear or themselves.

Perhaps they'd be happier living in Afghanistan where the government doesn't give a crap about it's citizens, it's economy, or it's businesses and these individuals can live happily driving some $5000 India made deathtrap that was made without any regulation or oversight by any government whatsoever.

I'd like to believe that everyone is far more intelligent than that, but we ARE a big country, and everyone has a god given right to be as idiotic, asinine, and retarded as they see fit. Everyone is completely free to not buy what they want, for whatever reasons. Some simply prefer one brand over another. Another might have family history with a brand. One may simply prefer a brand that's given them good luck. But refusing to buy a brand that wouldn't be here anyway if they hadn't gotten help and has prospered ever since and saved the taxpayers heaps of money in the process is something a bucket of crack and repeated hammer blows on the head would have a hard time eliciting from halfway intelligent folks....even if they lived under powerlines and ate lead flakes in their cereal for breakfast daily as kids, while mom was in the other room nursing the baby while she was downing a fifth of Jack and a carton of Camels.

Fortunately, in the REAL world, American car buyers CAN actually think and DO actually have the ability to reason logically, and therefore General Motors and Chrysler are not only making superior cars than before, but are reaping the benefits of making these superior cars by raking in more buyers and bigger profitability.

My opinion on people who refuse to buy from GM or Chrysler? Neither brand need them (let alone the rest of the county), they and their viewpoints aren't important to anybody......outside of their own braindamaged head in whatever fanciful imaginary world they live in.

Sellouts.. this may make me start to look at companies creating jobs here not taking them away when i need to replace our lease in 18mos!!!!!!!!!!

why GM? WHY very disappointed in your decision here. shame on them. taking a bailout by the AMERICAN TAX PAYERS and "fixing up" their company then heading for the hills... OBAMA you paying any attention to this???? Keep this in mind for "next time" remind your predecessor what they did to us... sick and tired of this same old story.. other car companies from over seas open plants here, invest billions and our companies leave... so ass backwards
Get over it.

Most of every American car has parts made elsewhere.

If nothing more than final assembly in the US matters to you, then buy a Honda Accord or a BMW crossover and you'll be fine.

You'll want to stay away from Camaros, Impalas, Chrysler RWD products, GM pickup trucks, Dodge Rams pickups, and a entire long list of other cars.

Finally, FWIW, if you think foreign makers opened plants here in the US to be patriotic, you're about to have your bubble burst..

They opened plants here because our labor unions are nothing compared to what they have in their own country, and because of the US dollar exchange rates and our pay scale, it's cheaper to operate a plant here in the US than to import from their own country.
 

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Guys, GM is a global company and has plants everywhere. To think that GM will produce all their vehicles here in the US for the entire world is a little silly and naive on your part.
GM is going to invest money in plants around the world because they make cars around the world.
Fine with me if they build cars for other markets in those markets where they will be sold but that most likely isn't the case here. GM is increasing capacity in Mexico and plans to sell the cars in America and ordinarily that might be a business decision they make alone. The reason it is my business is they borrowed money from me, and every other taxpayer, and never paid it back and have no intention of paying it back so the least they could do is give jobs to the very people who kept them from being liquidated.
 

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Fine with me if they build cars for other markets in those markets where they will be sold but that most likely isn't the case here. GM is increasing capacity in Mexico and plans to sell the cars in America and ordinarily that might be a business decision they make alone. The reason it is my business is they borrowed money from me, and every other taxpayer, and never paid it back and have no intention of paying back so the least they could do is give jobs to the very people who kept them from being liquidated.
Taxes go to a lot of things and a lot of investments that don't always pay out. GM paid back the loan and the profitability of GM will pay off for, hopefully, decades and continue to produce high paying, high skilled jobs in the US and GM will continue to build in other countries to also built those communities up.
GM is a beacon of jobs and a way to support a family in not only America but in countries all around the world.
Think outside of the box.
 

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Taxes go to a lot of things and a lot of investments that don't always pay out. GM paid back the loan and the profitability of GM will pay off for, hopefully, decades and continue to produce high paying, high skilled jobs in the US and GM will continue to build in other countries to also built those communities up.
GM is a beacon of jobs and a way to support a family in not only America but in countries all around the world.
Think outside of the box.
GM did not pay back the loans. Effectively, they paid back some money but paying back some money on your mortgage is not paying back your mortgage.

US taxpayers got back about 39 billion of the 50.1 billion GM was given. They still owe us over 10 billion dollars and apparently have no plans to make taxpayers whole. Given that we kept them in business and we still owe 10 billion on their account, the least they could do is build or expand plants here and employ more Americans instead of more Mexicans.
 

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People are over-reacting. Most auto companies are tripping over each other to open plants in Mexico lately. Honda, Mazda, Nissan, Mercedes, Audi. GM is simply looking out for the balancesheet, no different than any other multi national company.
Honda, Mazda, Nissan, Mercedes, and Audi do not owe the American people over 10 billion dollars.
 

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Everyone gets so pissed about making cars in Mexico? We took 55% of their country plus Texas became independent and eventually part of the US. That's 525,000 square miles plus all of Texas' territory. Although technically we paid them $15 Million.... But still you'd b so much happier if GM built the cars in Asia instead? Because that's the likely next option....

Yes, totally get the preference to build in the US of A but GM needs plants everywhere.
 

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People are over-reacting. Most auto companies are tripping over each other to open plants in Mexico lately. Honda, Mazda, Nissan, Mercedes, Audi. GM is simply looking out for the balancesheet, no different than any other multi national company.
What everyone seems to be forgetting about is that Mexico has free trade agreements with Several Central and South American countries making it ideal for exports to those countries. This is why Audi, Honda, etc. have all located plants there recently. I'm sure of the vehicles GM produces at these plants will be for American consumption, but most will stay in Mexico or make their way south.
 
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