Word: gm
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...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...
...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...
...GM has 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...
...Unless the new GM finds a quick path to prosperity, the billions of dollars invested in the company by Canada may soon end up being used, one way or another, to relocate production to Mexico...