General Motors has announced plans to invest US$450m at its Rosario Automotive Complex in Argentina between 2013 and 2015. Funding will be used to expand the facility to build an all-new, as-yet unspecified global Chevrolet vehicle.
“We are pleased to be making this investment in Argentina, which remains a very important market for us,” commented GM Chairman and Chief Executive Dan Akerson. “We have a long, proud history here dating to 1925 and our latest investment is certainly good news for our GM Argentina employees, our extensive dealer and supplier network and the local economy.”
Last year, GM’s Rosario facility built 136,466 vehicles, a new record. Of this total, 82,492 were exported. The OEM’s sales in the country totalled 136,323 units.
“This new model to be based on a global platform will run in addition to the models we are currently manufacturing in our plant and will allow us to supply the regional and domestic market with even more high-quality, high value Chevrolet products,” explained GM Argentina President Isela Costantini. “It is a huge vote of confidence for the entire GM Argentina team and the country.”
This same time last year, GM announced a US$150m investment in Rosario to expand capacity for the Chevrolet Classic and Chevrolet Agile. The addition of a third shift, bringing 600 new jobs, lifted the plant’s capacity by 25%.
General Motors has led the South American market for ten consecutive years. The company’s South American division, established in 2010 in response to strong sales, covers operations in Argentina, Bolivia, Brazil, Chile Colombia, Ecuador, Paraguay, Peru, Uruguay and Venezuela. It is looking to sell 1.4 million vehicles a year in the region by 2015, up from 1.3 million sold in 2010.
