GM Invests $450 Million in Argentina
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.
by Ana Cezara Savin (my Google+) - Thursday, October 25th, 2012 - filed under General Motors, Industry, News. Image credit: .
Discuss: GM Invests $450 Million in Argentina
4 Responses to “GM Invests $450 Million in Argentina”
Leave a Reply
Luxury Automakers Plan to Assemble Vehicles in India to Avoid Import TaxLuxury automakers try to boost sales in India by assembling the vehicles in this country.
As automakers have to pay a 100% ...
Luxury Auto Market Growth in China Down 8.34% in the First QuarterDuring the first quarter, premium-car market in China has dropped to 8.34%, representing a decline of 80% compared with the same ...
Thieves Stole an Audi RS4 Quattro Avant from Bury St Edmunds Audi DealershipHigh-tech thieves managed to steal a grey Audi RS4 Quattro Avant estate two days ago, even if the car was fitted with ...
Tata Delays Plans of Building Plant in ThailandAs Tata tries to deal with a drop in demand it has decided to postpone the development of the new facility in Thailand.
Tata ...
Audi Surpassed BMW in India Luxury Auto SalesAudi managed to surpass BMW and become the largest seller of luxury vehicles in India.
Over the past years the luxury auto ...
GM Stock Surpasses 2010 IPO PriceToday, May 17th, GM’s shares surpassed the offering price from the 2010 IPO, which means that the US Treasury will be able to ...
PSA Workers at Aulnay Plant End Four-Month StrikePeugeot’s workers at the Aulnay plant accepted to end the 4-month strike held for the plant’s closure.
The workers will end ...
Jaguar Plans to Upgrade Its Dealerships in the USJaguar plans to refurbish its dealerships in the US as it prepares for a wave of new products.
The automaker with begin with 50 ...
VW April Sales Up 7%VW reported sales up 7% to 784,600 vehicles in April, after a drop of 0.2% in March.
"Nevertheless, the market environment ...
Volvo April Truck Sales Down 2%Volvo sales dropped 2% to 16,572 vehicles in April, compared with the same month last year.
Sales in Europe dropped 7% to 6,334 ...
Tesla Plans to Repay Energy Department LoanTesla plans to raise $1.08 billion to build cash reserves and repay the loan offered by the Energy Department.
CEO Elon Musk ...
Michelin Comes With New Agreement for Its French PlantsMichelin plans to implement new rules at its facilities in France, aimed at adjusting capacity and avoiding lay offs, as ...
George Michael Involved in Car Crash in EnglandThursday night, May 16th, George Michael was injured in a car crash which took place on the M1 motorway at around 5:50 p.m.
The ...
Sale of the Nurburgring Race Track Began This WeekThe bidding for the Nurburgring race track started this week, and the final price is expected to reach about £100 million.
The ...
Fiat Does Not Plan to Move Headquarters to the USFiat CEO Sergio Marchionne said that the company does not plan to move its headquarters to the US.
"This issue, treated several ...
Luxury automakers try to boost sales in India by assembling the vehicles in this country.
As automakers have to pay a 100% import tax to bring luxury vehicles to India, they have decided to manufacture the cars here. Over the past year luxury auto sales in India have begun to increase, therefore ...
Test Drive: Dacia Logan 2 1.5 dCi LaureateThe second generation of the Dacia Logan has been unveiled back in 2012, during the Paris Motor Show, and now we’ve gotten the chance to take it ...
Test Drive – Renault Megane GT LineThe Renault Megane GT Line manages to combine what’s best from the two worlds, the impressive chassis of the Megane RS and the economical dCi 130 ...
Test Drive – Nissan Navara 3.0 AT, the rugged off-roaderThe Nissan Navara will probably receive a new generation soon, just like its more expensive brother, the Pathfinder, but until it will do, we have ...
2011 Safest Cars [Video]
2011 IIHS Safest Cars [Video]
2011 EuroNCAP Safest Cars
2010 Safest Cars [Video]
2009 safest cars Euro NCAP
Latest in Safety NHTSA Plans to Prevent Traffic HackingThe NHSTA announced it will take all the measures to prevent self-driving vehicle traffic networks ... [VIDEO] U.S.: Chevy Traverse gets front center airbagThe North American based automaker Chevrolet has recently announced a new option for the Traverse ...
Latest in Safety NHTSA Plans to Prevent Traffic HackingThe NHSTA announced it will take all the measures to prevent self-driving vehicle traffic networks ... [VIDEO] U.S.: Chevy Traverse gets front center airbagThe North American based automaker Chevrolet has recently announced a new option for the Traverse ...
Inautonews Facebook page
Inautonews Twitter page
Dan Akerson, GM CEO, was appointed by Obama. Akerson is the one suggesting another $1 tax hike on gasoline. This is why we need a business man with some basic math skills running the country.
Ah, yes. US taxpayer bailout to help the Argentinians get jobs.
Government motors has not seen fit to reemburse the citizens of the USA for the billions of dollars they owe through TARP. However; they are happy to basically give money offshore. Maybe they should take some of that money to reembuse the many thousands that they screwed, both non-union pensioners and bond holders. GM and Obama did this to placate and make sure the parasitic UAW did not suffer any monetary setback.
are you kidding me ?? this is tax payer money!!