GM banking on Brazilian revival

Amidst a background of falling sales, looming overcapacity, layoffs and political uncertainty, General Motors is investing US$2.9bn in Brazil. The funding will be spread across the next four years and cover new product development, technology, employee training and greater localisation.

Santiago Chamorro, President of GM do Brasil, emphasised the move as a mark of long-term commitment to the country. Long-term, as today, the market is rife with challenges.