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Old 07-15-2009, 12:46 PM   #1
AVANTI R5
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Default GM to invest $1 billion in Brazil to develop new cars

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BRASILIA (Reuters) -- General Motors unveiled plans today to spend 2 billion reais ($1.02 billion) in Brazil through 2012 to develop a new family of vehicles for the South American market.

The U.S. automaker plans to invest the bulk of the money at its Gravatai factory in the southern state of Rio Grande do Sul, which it would expand to increase production capacity, Jaime Ardila, GM's chief executive for Brazil and the Mercosur region of South America, said in a statement.

GM made the announcement after Ardila met in Brasilia with President Luiz Inacio Lula da Silva, a former metalworker who cut his political teeth in the late 1970s as a union leader representing auto workers in Sao Paulo's industrial hub.
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Old 07-15-2009, 01:44 PM   #2
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Probably a sound investment, Brazil is really up and coming.
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Old 07-15-2009, 01:49 PM   #3
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I'm glad that my tax money is helping other countries.
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Old 07-16-2009, 07:49 AM   #4
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^^^ You might get it back quicker this way ?
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Old 07-16-2009, 09:01 AM   #5
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I'm glad that my tax money is helping other countries.
Yup! Our bailout funds at work under the control of incompetent managers at GM.

How about investing 1 billion in the US market?
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Old 07-16-2009, 09:05 AM   #6
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my thoughts exactly....
the fact that billions are leaving the US to support the economies in other countries is pathetic.

Yet another reason they should have let them fail. If this is the only way they can be price competitive, then they SHOULD NOT EXIST. CUT your losses and let them sink. Constantly bailing out a losing franchise is not money well spent. God forbid the white house admits it screwed up....its one thing to support the underdog, and American trait, but its another to back a hopeless loser.
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Old 07-16-2009, 09:30 AM   #7
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While you go slagging of GM you perhaps should check the fact that GM Brazil is actually profitable ...
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Old 07-16-2009, 09:36 AM   #8
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We loaned money to GM. The more money they make, the sooner we can get paid back.

We are not "sending money" to Brazil. An American company is trying to make money in Brazil, so if anything, it's going to be Brazillians buying cars and sending money to us.
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Old 07-16-2009, 09:44 AM   #9
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This seems to mirror GM's decision.


However, I understand the need to expand into new markets and if they can produce and sell cars for a profit in Brazil that profit "might" return back to the states.
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Old 07-16-2009, 09:48 AM   #10
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OH I see, you guys are still under the illusion we will ever get paid back.....

hahaha, seriously...you really think that.
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Old 07-16-2009, 10:57 AM   #11
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my thoughts exactly....
the fact that billions are leaving the US to support the economies in other countries is pathetic.

Yet another reason they should have let them fail. If this is the only way they can be price competitive, then they SHOULD NOT EXIST. CUT your losses and let them sink. Constantly bailing out a losing franchise is not money well spent. God forbid the white house admits it screwed up....its one thing to support the underdog, and American trait, but its another to back a hopeless loser.
Are you serious??? Enlighten us if GM is the only company that does business outside of their own land. I guess Honda, Toyota, Nissan, Hyundai, MB, BMW, VW and others were born and raised in the US, huh? I wonder how their homeland consumers feel that they have successful car manufacturers that help their economy while having divisions that operate overseas.

I'd do some research before posting half intelligent posts. Nothing personal to you but this mentality just shows how little people know about what REALLY goes on. You can't just look at GM's (or any company) operation in the US at face value. Whatever they profit overseas, helps our economy. It's not all about everything having to be in the US for the US to survive.

Economics and Trade lessons are in order........
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Old 07-16-2009, 11:13 AM   #12
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OH I see, you guys are still under the illusion we will ever get paid back.....

hahaha, seriously...you really think that.
I agree there is a very good chance we never get paid back.

Regardless, a US based company making money in another country is a good thing. GM isn't over in Brazil handing out US taxpayer money, they are in Brazil trying to get Brazilians to hand over money to them.
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Old 07-16-2009, 11:22 AM   #13
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Fair, enough, I see your side of the argument, and keeping a profitable business running is not a bad thing.

I wish it was spent here, improving our factories, but I have been shown another side of the argument, and I agree.
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Old 07-17-2009, 12:25 AM   #14
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Fair, enough, I see your side of the argument, and keeping a profitable business running is not a bad thing.

I wish it was spent here, improving our factories, but I have been shown another side of the argument, and I agree.

Im from Brazil, and to be honest i see 1 billion spent there going further than 1 billion spent here

Were still a developing country, but over the recent years our economy has been booming while others have been detereorating.

The money the USA lent us way back when has been repaid and for the first time ever the USA has BORROWED money from brasil. Funny isnt it?

the opportunity for growth there is tremendous...it is actually cheaper for someone in brasil to buy a NEW car than it is to buy a used one...so people do it often. they way they finance cars down there is somewhat remarkable and irresponsible, but it works in selling the car... (you can pretty much pay the car off in 500 monthly payments...thats right 41 years )
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Old 07-17-2009, 10:07 AM   #15
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Not to mention all the expertise GM will gain with ethanol. *hides*
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