Michigan reclaims number one spot in auto production from Ontario. (generation, Mexican)
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Ontario has lost it's number one spot in auto production to a resurgent auto industry in Michigan. The province of Ontario has had bragging rights as top auto producer every year since 2004 but will be overtaken this year by the state of Michigan. The state is on track to make 2.45 million cars this year to the province's 2.34 million.
Cheered on by Fox, teabaggers, and RW media, Bain Capital was licking its lips over the demise of the auto industry and the possible takeover and "harvesting" of that huge cash cow. When Romney said "let it go bankrupt" he knew that a multitude of insolvent or struggling smaller supply-chain companies would have crippled the parent industry, making it ripe for the picking. Vulture capitalism.
The loon bin libs do make a valid point. Conservatives weren't on the side of the auto makers on this one. Never mind that tons of auto plants have opened up in the south, providing middle class incomes for hundreds of thousands. Nope, watching a bunch of union boys squirm would have been well worth the demise of 2 of the big 3
With most of world's auto makers heavily subsidized by the state, American auto makers simply can't compete without some help. When you look at manufacturing as a whole in China, much of it is heavily subsidized or outright owned and controlled by the state. They can sell products at a loss just to kill American competition.
There are reasons behind why 2 of the big 3 would have went belly up if it weren't for the tax payer loan. I'm not crazy about tax dollars being used to tie up loose ends, but when you look at the foreign competition, and you see the white knuckled competitive atmosphere, we stand to lose big if we sit idly by and watch all our domestic operations disappear.
I guess when you live in a trailer park and uncle Obama puts food in your refrigerator, the survival of American industry doesn't rank high on your list of priorities...
Just imagine if GM hadn't "invested" $400 MILLION of OUR tax dollars building a Silverado plant in Mexico!
General Motors is stepping up its Mexican operations with some $420 million in investments that will bring production of three new models to the country. The models, the Chevrolet Trax compact utility vehicle, and Chevrolet Silverado and GMC Sierra pickup trucks, will go into production over the next year.
Automotive News reports that GM will invest a total of $420 million on two plants in Mexico to produce the two new models. $120 million of that investment will be in the San Luis Potosi region of Mexico on a plant that will make the Aveo/Sonic-based Chevrolet Trax crossover, which will launch at the Paris Motor Show this September and go on sale in 140 countries late this year or early next. Despite GM’s global plans for the Chevrolet Trax, the little CUV isn’t headed to American dealerships.
What is headed to American dealers is GM’s next generation full-size pickup truck. General Motors will spend $200 million of its $420 million investment to retrofit its Silao, Mexico plant to make full-size pickups starting next year. Those pickups include the Chevrolet Silverado and GMC Sierra, which are due to be replaced in 2013 with a 2014-year model.
Just imagine if GM hadn't "invested" $400 MILLION of OUR tax dollars building a Silverado plant in Mexico!
Yes, and they have quite a few plants in China, where they build cars for the Chinese people. It's a global economy, which means you have to build things for people besides those that reside in the USA. How many 30K cars are we going to sell to the Chinese, and that's before they slap a 25% tariff on it? Kind of justifies the auto plants in China, doesn't it?
While they do make some components in Mexico, Ford has been doing that for over a decade. Ford did not take a cent of tax payer money, which might suggest the value of building some components outside the U.S..
Like it or not, trying to make the entire car in the U.S. and/or Canada is a recipe for bankruptcy... As GM learned the hard way. I would rather see them invest that money in the right places, instead of crawling on their hands and knees for more tax payer dollars in a decade.
Yes, and they have quite a few plants in China, where they build cars for the Chinese people. It's a global economy, which means you have to build things for people besides those that reside in the USA. How many 30K cars are we going to sell to the Chinese, and that's before they slap a 25% tariff on it? Kind of justifies the auto plants in China, doesn't it?
While they do make some components in Mexico, Ford has been doing that for over a decade. Ford did not take a cent of tax payer money, which might suggest the value of building some components outside the U.S..
Like it or not, trying to make the entire car in the U.S. and/or Canada is a recipe for bankruptcy... As GM learned the hard way. I would rather see them invest that money in the right places, instead of crawling on their hands and knees for more tax payer dollars in a decade.
I would rather see them be able to stand on their own.
If you build a product that people want over the competition, people will buy it.
If not, they can go the way of the Studebaker!
Does that make sense? Or should we the people bailout EVERY failing company?
Yes, and they have quite a few plants in China, where they build cars for the Chinese people. It's a global economy, which means you have to build things for people besides those that reside in the USA. How many 30K cars are we going to sell to the Chinese, and that's before they slap a 25% tariff on it? Kind of justifies the auto plants in China, doesn't it?
While they do make some components in Mexico, Ford has been doing that for over a decade. Ford did not take a cent of tax payer money, which might suggest the value of building some components outside the U.S..
Like it or not, trying to make the entire car in the U.S. and/or Canada is a recipe for bankruptcy... As GM learned the hard way. I would rather see them invest that money in the right places, instead of crawling on their hands and knees for more tax payer dollars in a decade.
I couldn't care less who builds what where, as long as they are doing it on their own dime.
But don't give a business $50 BILLION taxpayer dollars.
I couldn't care less who builds what where, as long as they are doing it on their own dime.
But don't give a business $50 BILLION taxpayer dollars.
GM has been a major tax payer since 1908. Undoubtedly, their presence equates to more tax revenue in a week than you will pay in a lifetime. There are, obviously, some benefits to keeping them afloat with a temporary loan. Let them go under however and you will potentially lose more than you will have saved by not giving them a loan.
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