by "Dave the car guy , still here" (a3dave)
Published 04/20/2017 at 09:01
by "Dave the car guy , still here" (a3dave)
Published 04/20/2017 at 09:01
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STARS: 1
The government there seized the factory like when they took over the Clorox plant in 2014. Other than a drop in worldwide sales what could this do to the General? Crazy times.
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"pip bip - choose Corrour" (hhgttg69)
04/20/2017 at 09:32, STARS: 0
barely make a ripple
"Dave the car guy , still here" (a3dave)
04/20/2017 at 09:49, STARS: 0
Does the $1.8 billion in debt from the Venezuela operations burden GM as a whole? I wonder if that old political or business cycle rule of thumb that change will come in 7-10 yrs will apply in this case or if the country is so out of whack that it will be decades to stabilize.
"pip bip - choose Corrour" (hhgttg69)
04/20/2017 at 09:57, STARS: 0
any debt will just be shuffled around and written off.
"BKosher84" (bkosher84)
04/20/2017 at 11:49, STARS: 0
All they make are spare parts.. The worst you’ll see if if you take your GM vehicle to the dealership to get fixed, the wait for a spare part might be longer.
"Dave the car guy , still here" (a3dave)
04/20/2017 at 12:41, STARS: 0
Nothing that’s for US models that I know of. Haven’t seen a GM part from South America in many years.
"BKosher84" (bkosher84)
04/20/2017 at 12:45, STARS: 0
Hm. Good call. I’m just going off the CNN article I read earlier (and assholishly called out Patrick George on not quoting correctly, but then thanked me for pointing it out and fixing it...) which didn’t specify whether it was a global parts plant to just regional.
"Dave the car guy , still here" (a3dave)
04/20/2017 at 12:53, STARS: 0
I’m pretty certain GM still has factories in Brazil and Argentina so I’d expect they will be booming for any replacement parts in South America. What’s Venezuela’s loss is likely their gain.
"gmporschenut also a fan of hondas" (gmporschenut)
04/20/2017 at 19:58, STARS: 0
To Gm? nothing
From what I was reading at lunch, due to the currency crisis in the country the plant has barely stayed open, as they have no one to sell cars to. they’re mostly pissed about the real estate and equipment.
“The move against G.M. comes as Venezuela’s auto industry has nearly ground to a halt amid the political instability, currency issues and economic failure that have led to the violent protests across the nation.
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Last year, automakers sold only about 3,200 new vehicles compared with more than 17,000 in 2015, with plants closing for months at a time because of a lack of demand.” https://www.nytimes.com/2017/04/20/business/venezuela-general-motors-business-protests.html
"Dave the car guy , still here" (a3dave)
04/20/2017 at 20:34, STARS: 0
Ford should be worried. They have interests there too.
"gmporschenut also a fan of hondas" (gmporschenut)
04/20/2017 at 23:31, STARS: 0
given the economic conditions, they might as well have been already written off.