GM’s LatAm woes continue

Auto giant General Motors has seen better days as the firm is close to collapsing. In recent years the company was able to rely on record sales in Latin America yet as we recently noted that trend has sharply reversed.

Yesterday GM’s regional woes continued:

General Motors Corp. (GM) will idle three plants in Mexico in coming weeks and will suspend production of two assembly lines until February, the company's Mexican unit said Monday…

"These idles allow for preventive maintenance on equipment and a more adequate balance of production," GM de Mexico said, adding that the company will continue reviewing its production levels in light of changing market conditions.

The work stoppages will affect over 10,000 employees whose jobs may be lost if the economic situation worsens.

Mexico was the world's 10th-biggest car producer last year and “is heavily dependent on the U.S. economy.”

Image- ABC News
Sources- The Latin Americanist, Reuters, AP, CNNMoney.com