MercoPress. South Atlantic News Agency
Argentina guarantees car makers sufficient dollars to meet production target
Car makers in Argentina have sufficient dollars to meet production and sales targets, the government said Friday, a day after General Motors Co announced it had suspended exports from Brazil to its Argentine unit due to a hard currency shortage. Read full article
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Disclaimer & comment rulesYeah I wouldn't believe it until you actually see the greenbacks.
Sep 13th, 2014 - 08:19 am - Link - Report abuse 0“The flow of hard currency is guaranteed,” Argentina's chief of cabinet, Jorge Capitanich, told reporters.
Sep 13th, 2014 - 10:13 am - Link - Report abuse 0I can't see from the picture but are his fingers crossed behind his back?
I've heard a lot of “guarantees” from the argentine government over the years and this one is going to turn out to be no different from ALL the other guarantees they have given.
Has GM now unsuspended imports on the back on the Argentine Government statements? This is not clear from the above article.
Sep 13th, 2014 - 11:32 am - Link - Report abuse 0I am more inclined listen to GM on this. We constantly hear statements from Argentine pols, rarely do they carry any weight.
The credit line lasts through Dec. and its just enough to keep people employed.
Sep 13th, 2014 - 11:33 am - Link - Report abuse 0If they are still refusing to make payments in Q1 2015 they should be completely out of U$ at BCRA.
I think they're assuming the holdouts will settle in 2015, I think by then the holdins will have accelerated payments and Arg will have to renegotiate with them too. The precarious balancing act they are doing won't last too much longer.
So fun to watch.
The streets are already blocked with cars and no place to park in Buenos Aires, so there is already an over production.
Sep 13th, 2014 - 12:06 pm - Link - Report abuse 0Why not put the 100 million a month toward building a high speed rail.
This is just the usual band aid/kicking the can down the road from the K's.
If you remember, Venezuela made a similar promise to their car assembly plants as well. Anyone know how many cars are now being assembled currently there...?
Sep 13th, 2014 - 06:33 pm - Link - Report abuse 0#5 Klingon
“Why not put the 100 million a month toward building a high speed rail. ”
Well, if they did, how much of that 100 million would end up in Cristina's bank account in the Netherlands Antilles?
Good news! VW is resuming assembly of gearboxes in Argentina for export to China. Also, the GM folks have made comments recently that they are not planning to “permanently close” their assembly plants in Argentina.
@3 GM won't unsuspend any imports until the gov't pays the dollars it owes. These dollars are only for parts for locally assembled cars.
Sep 13th, 2014 - 07:46 pm - Link - Report abuse 0@6 Chicureo
Sep 13th, 2014 - 08:11 pm - Link - Report abuse 0I have posted about this before
“Toyota, GM and Ford were producing in Venezuela last year. This is has no all been stopped due the impossibility of the currency controls. The companies have pulled out due to government economic incompetence and corruption. Not because of lack of skilled labour.”
http://en.mercopress.com/2014/07/14/gm-to-manufacture-aluminium-engines-in-argentina-for-local-and-export-markets#comment339429
and
“Toyota and Ford ceased production in Venezuela last week.
Fool Ma-Burro demanded 'someone senior' from Japan should come to him to explain why. Even though Toyota had published a clear press release. ”
http://en.mercopress.com/2014/07/14/gm-to-manufacture-aluminium-engines-in-argentina-for-local-and-export-markets#comment339429
Secondly, an interesting footnote to Venezuelan car production:
The Venirauto Turpial is a four-door sedan produced in Venezuela by Venirauto, a joint Venezuelan-Iranian venture. The production plant is located in Maracay west of Caracas and started production in July, 2007. The vehicle is based on the Kia Pride and was originally priced at Bs. 17 million (US$7,906). According to the German newspapers die Tageszeitung the plant currently produces almost NO cars (Feb. 2014).
see also
http://en.mercopress.com/2014/07/14/gm-to-manufacture-aluminium-engines-in-argentina-for-local-and-export-markets#comment339429
I believe it is now a defunct operation. Still has an Owners club with 773 members, which considering they started production 7 years ago says quite a lot!
http://en.mercopress.com/2014/07/14/gm-to-manufacture-aluminium-engines-in-argentina-for-local-and-export-markets#comment339429
#8 ilsen
Sep 13th, 2014 - 08:39 pm - Link - Report abuse 0I understand Tata is currently considering assembling a “ Latin American” Nano model in Argentina using a special 3 way debt swap investment strategy involving Chinese repayment for Argentine oil.
~9 Chicureo
Sep 13th, 2014 - 10:52 pm - Link - Report abuse 0Are you for real?
lol!
links please!
:-)))
#10 ILSEN
Sep 14th, 2014 - 12:45 am - Link - Report abuse 0Never take me serious, but amazingly in the Latin Post, or similar, I believe there was an article, but I can't find it. However you may try along with the Tata article, wich there are several more more recent:
www.latinpost.com
http://www.mundoautomotor.com.ar/web/2008/04/09/tata-nano-en-argentina/
Ok
Sep 14th, 2014 - 04:19 am - Link - Report abuse 0:-)
WTF! Is that a car? Does matchbox cars really count as production?
Sep 14th, 2014 - 02:00 pm - Link - Report abuse 0Klingon you are Argentine. Where in BsAs City? When I was there in June the shops on Santa fe were thinning out and now I hear there are closing. Can your corroborate that?
When there's no U$, they can't import cars or parts for cars.
Sep 14th, 2014 - 02:09 pm - Link - Report abuse 0It can't happen
Why oh why do these idiots think GM Ford, Renault, Fiat etc will stick around much longer paying employees to do nothing.
Psst they won't.
Well I think the Nano by Tata to be a perfect solution of Cristina's goal to fulfill her promise of each of her followers to have an opportunity to buy a family car.
Sep 14th, 2014 - 03:20 pm - Link - Report abuse 0As an added bonus, car production numbers will soar, use of fuel reduced, more space for parking cars... Really, the advantages are numerous...
What would most Chileans give to be able to afford even that car...
Sep 14th, 2014 - 04:19 pm - Link - Report abuse 016. About the same as most Argentinians.
Sep 14th, 2014 - 04:53 pm - Link - Report abuse 0I bet Cuba and Venezuela thought the car companies wouldn't pull out either.
But they did and they will
Yankeeboy
Sep 14th, 2014 - 06:16 pm - Link - Report abuse 0I'm afraid I will have to severely correct your erroneous comment: “16. About the same as most Argentinians.”
Chile, unlike Argentina, has a preferential trade agreement for importing assembled vehicles from India at very favorable terms. The Tata pickup, for example, has become reasonably very successful in Chile, but the Nano would have a very hard time competing with the large number of economical imports.
The cost of importing into Argentina, due to prohibitive high import duties would make it non-competitive.
@17
Sep 14th, 2014 - 06:24 pm - Link - Report abuse 0So what you are saying is that after 41 years of “yankeeboynomics”, the best Chile has managed is to achieve the same level of a 70-year declining Argentina.
Wow, now that is won HALF-CENTURY.
Just think what the chilenos could do if they had Argentina's landmass instead of a strip of mountains and sea.
Sep 14th, 2014 - 07:59 pm - Link - Report abuse 0Its shameful what the Rgs have squandered over the last 3 generations. Getting poorer and dumber with every passing year.
...100 years ago, Argentina was the 7th or 8th wealthiest country in the world...
Sep 14th, 2014 - 08:28 pm - Link - Report abuse 0Now the world considers your country as a pathetic failure...
@21
Sep 14th, 2014 - 08:46 pm - Link - Report abuse 0“the world”
A word who 98% of those who criticize us were NEVER and will never be in that position.
And they dare call us failures. hahaha.
Oh no, please kindly forgive me for implying you are not a part of the TOP 10 in the world in numerous categories:
Sep 14th, 2014 - 08:57 pm - Link - Report abuse 0Most corrupt
Most thieving
Most insincere
Most greedy politicians
Most pathetic navy with access to the sea
Most unreliable central bank
Most difficult country to do business with
Most unsafe international airline
Most dishonest police
Most dodgy negotiators
Most crybaby mentality.
Golly gee, you really are a top nation, congratulations!
Funny then that it takes so little to equal Chile.
Sep 14th, 2014 - 10:56 pm - Link - Report abuse 0We do everything wrong for a century, and we are lazy.
You do everything right for 50 years, and work like slaves.
And the best you can manage to be economically is an “Argentina with good marketing skills”.
What is it with the word WORK that argentines fear? Lazy fucks is right. Chile should invade them for the land. Not thing they czn do unless some other country would protect them.
Sep 15th, 2014 - 02:16 am - Link - Report abuse 0Yes, because invading and holding a country is so easy... just as those retards the Americans. How are things going in Iraq these days?
Sep 15th, 2014 - 02:30 am - Link - Report abuse 0Argentines want to work. They just don't want to be slaves, like you, and the rest of the NorthAmoans, EUians, Asians, and increasingly Latin Americans.
The multinational corporations have brainwashed you, your country, and others into thinking that the choice is either them (and 12-14 hour work shifts, no personal life, poverty wages), or nothing at all.
Then I suppose your people have figured out a better way to live.
Sep 15th, 2014 - 02:34 am - Link - Report abuse 0Tell me about it.
Sure I have, a society based on learning 24 hours a day. A society that eschews sexuality and being interesting in the opposite sex (or the same sex). A society that reads books and learns words, and other languages. A society that does not drink except small dosages of wine. I'll work, even work for an undeserving wages, if I enjoy the work.
Sep 15th, 2014 - 02:45 am - Link - Report abuse 0Why do you deny Europe and the USA have been taken over by multinational tyrannies, and that their inequality gaps between boardroom and labor have become offensive is beyond me.
Must be a society of one because that doesn't describe Argentina in the least.
Sep 15th, 2014 - 02:54 am - Link - Report abuse 0One is the loneliest number they say.
It must be so freeing to be delusional.
Perhaps not, but in such a society your could work only 6 hours a day and do very well. No mental disease, no physical disease, no vice, and a lot of added value from learning words like “apodyopsis”. Knowledge is strength.
Sep 15th, 2014 - 02:58 am - Link - Report abuse 0@ 28
Sep 15th, 2014 - 03:07 am - Link - Report abuse 0Bob makes a ton of money. Al makes some money. That is evil.
Why?
He has a lot. I have a little. That is evil.
Why?
Mary has an apartment, and a car, and a telephone, and health insurance, and can afford plenty of food, and has Saturdays and holidays off and 2 weeks of vacation a year.
Frank has a palace and a condominium in the Bahamas, and he has 5 cars, he's got the super duper “cover everything” health coverage, he throws tons of parties, and can play golf anywhere in the world he wants, whenever he wants.
Because Mary doesn't have that, that is evil.
You don't get it. It is not evil to have money. It isn't even EVIL to have money and commit crimes (like embezzling, cheating savers, and buying the poitical process), to make more money.
Sep 15th, 2014 - 03:15 am - Link - Report abuse 0It is EVIL to have money and commit crimes (like embezzling, cheating savers, and buying the political process), to take money from the poor.
That is what is going on in the USA and Europe now. Those that have money are TAKING what little the poor have. And you and the others here approve of it.
Check the bailouts.
Check the tax laws in the USA.
Check the tax havens in Europe.
The rich in Europe and the USA effectively pay no tax. They don't even pay consumption taxes because in the USA they can write that off as charity, and in Europe they can recoup it through buying subsidies for the business they own.
They take risks and when they win, they keep the profits. When they lose, they ask their respective governments to remove money from the economy and from hospitals, infrastructure, etc, so their loses can be covered.
It is truly a stygian, perverse, debauched system you have there now.
#28 little pathetic troll
Sep 15th, 2014 - 03:34 am - Link - Report abuse 0You discussed several times about your belief in being a part of a utopian “society based on learning 24 hours a day” That you strongly believe in eschewing sexual contact with Argentine women in general. Then you lecture us not to drink “except small dosages of wine.”
Elaine nailed your problem from the start... you really need to get laid. Any experienced prostitute will do the “trick” and trust us, it will calm you down far better than the glue you're currently sniffing.
Get a life! Please....
#32 tit meister, it would actually mean something of what you are espousing if you at least visited the places you are rambling about let alone leaving and working there. You think you you know what happened with bailouts, who is taxed, or because they do not utilize tax processes you feel should be used. You need to get out in the world rather than reading the blogs that tell you this and that. Your programming is a complete and perfect failure.
Sep 15th, 2014 - 09:19 am - Link - Report abuse 032. Your jealously and terrible education will never let you understand why our system works and yours doesn't.
Sep 15th, 2014 - 10:39 am - Link - Report abuse 0Keep buying Sugar, this is merely the beginning of the end.
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