GM plans to EXPORT cars from CHINA.
A plan to shift a greater proportion of the struggling car-maker's production overseas is still being negotiated with US politicians, who have already lent GM $15.4bn (£10.18bn) in order to keep it afloat and safeguard its 90,000 US workers.
However, a spokesman for GM in Shanghai said it was "only a matter of time" before vehicles made in China are imported into the company's home market, in
More..another blow to the US car industry.
After losing $6bn in the first quarter, GM has slashed its global production by 40pc, or 900,000 vehicles. Around 13 assembly plants will be affected by shutdowns in the US. The company has a June 1 deadline to complete a restructuring or follow Chrysler into Chapter 11 bankruptcy.
"The production quality here is the same as Luton in the UK or the US. We may not be fitting them with all the specifications but that does not mean we can't," he added.
"In a perfect world, you produce vehicles where you sell them. That's how it should be. But if it doesn't make sense economically to have two factories because you do not sell enough volume then it might make sense to have one location," he explained.
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Added: May 14 2009 In: news_politics
Recorded on: May 14 2009
By: Tranejam 
- Tags:
- GM,
- general,
- motors,
- broke,
- china,
- outsourcing,
- greed,
- coruption,
- dpression,
- wealth,
- usa,
- chevy,
- gmc,
- cadillac
- Views: 1129 |
- Votes: 2 |
- Recommendations: 2 |
- Comments: 30
Comments - sort by newest to oldest
how much money did obambi steal from american sheeple to give to these guys? only to have them ditch the check and run out of the restaurant?
hahah
Posted May-14-2009 by "oldmilo" (R)
Great.
Its the closing headquarters in America and moving 80% of the Jobs to Mexico, Canada, Europe, India, and China. Then bring the vehicles over here for sale.
Who can buy if no jobs?
Oh yes 30% of the jobs today have been created over the last 5 years or so. Great but we have a lower education system in America and this fact remain the main reason we need lower skilled jobs.
Thank our Federal Education System of the last oh 20-30 Years.
The new jobs are going to immigrants with the skills to do them, not to uneducated public school graduates.
Oh yeah the have the Military.
Posted May-14-2009 by "rclark951" (R)
The American taxpayer gets Shanghai-d again. Big surprise.
Birds gotta fly, fish gotta swim, Democrats gotta... what is it that Democrats are talented at again? I forget.
Posted May-14-2009 by "FlibbleDeeFlobble" (R)
This is the change you voted for..
Posted May-14-2009 by "Maxisminion" (R)
Hope and change.
Posted May-14-2009 by "cat-scratch-fever" (R)
Don't forget about hope! We also have hope now.
Posted May-14-2009 by "lonewolf6972" (R)
The beginning of the end for GM.
Posted May-14-2009 by "Zydoplot" (R)
Yep Hope you will have a home and Change to buy some food.
Good one.
Posted May-14-2009 by "TIGWelder" (R)
Ill stick with my Bmw and ktm....
Posted May-14-2009 by "StormUSA" (R)
Im riding a Harley atm so im doing my part.... Not to save GM but anyways.
Posted May-14-2009 by "Miniboss" (R)
BMW is a sure sign of a small penis.
Posted May-14-2009 by "oldmilo" (R)
It does not matter where you make it GM is still junk and not worth what they sell for. 5 year cars/trucks at best. Outsorcing is not the anwawer long term .
Posted May-14-2009 by "Onceproud" (R)
Every company that I have worked for has transferred manufacturing from the UK to a low wage economy. Eastern europe, Chins Malaysia Mexico etc. The economics as a producer are simple: produce your goods at a lower price!
Only NOW is the effect of there being no-one (employed)left to buy the goods.
Posted May-14-2009 by "boIdfart" (R)
BMW is a sure sign of a small penis.
And american muscle cars is not?
Hey, at least i admit that i have a small one.
Posted May-14-2009 by "Miniboss" (R)
got to reward the hands that bankrolled yo ass into office...
Posted May-14-2009 by "sauerkraut" (R)