Word: gm
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Dates: during 2000-2009
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...same time that GM plans to shutter plants from Jacksonville, Fla., to Indianapolis on the back of a $50 billion U.S. bailout, the car company is preparing to more than double Mexican output, from 344,099 this year...
...GM Mexico's profit on some vehicles is as high as $16,000 per unit," says Francisco. By contrast, it's not clear whether GM is presently making money at any of its U.S. or Canadian assembly plants...
...With such a dramatic cost advantage to making cars in Mexico, it's no surprise that GM plans to max out production in that country as it struggles to shake off Chapter 11 bankruptcy protection and return to profitability...
...About 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 80% of the new GM...