Word: canadas
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Dates: during 2000-2009
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...Canada contributed $9.5 billion to the rescue of GM's operations north of the 49th parallel - a figure that works out to an unprecedented $2.1 million for each of 4,400 assembly jobs it hopes to save - while Mexico has sailed free? The short answer is that GM Mexico doesn't need a bailout because it's comfortably in the black. "If you have a profitable division at a time when the rest of your business is having a hard time, do you talk about it?" says analyst Pascual Francisco at IHS Global Insight in Lexington, Mass., referring...
...three-quarters of the 504,858 vehicles GM Mexico produced in 2008 were exported throughout the Americas and the Middle East. But the vast majority - 68% of the total - ended up being sold in the U.S. market. (Historically GM has profited by importing vehicles into its home market from Canada and Mexico by taking advantage of lower fixed costs...
...Most of that increased output will end up in the U.S., but GM Canada may ultimately pay the highest price for the shift in production. The reason is that, going forward, slashing output in Oshawa - its main production facility, located east of Toronto - comes at a much lower political price than doing the same in the U.S., where the U.S. Treasury and United Auto Workers control nearly...
...promised to keep 16% of combined U.S.-Canada output north of Detroit, but unless its new models can win market share from Ford and Toyota, it will continue its painful slide into oblivion. Also, as GM continues to shrink at home, it can trim a proportionate amount of production in Oshawa without breaking its promise to the Canadian government. Early on July 8, GM reported a 34% decline in June sales, to 176,571 cars and light trucks, in its domestic market. Year-to-date sales have collapsed 41%, to 954,356 vehicles...
...There's no such thing as 100% protection," says Toronto analyst Dennis DesRosiers with DesRosiers Automotive Consultants, referring to GM's commitment to Canada. He notes that as Canada's total share of North American auto production has steadily declined since hitting a peak in 2000, Mexico's share has moved in the opposite direction...