Government Pushes Compact Car Despite GM Bankruptcy

Argentine president, Cristina Fernandez, has announced that it will be providing US$70mn (ARS261.9mn) to the local subsidiary of US carmaker General Motors (GM). The loan will be used to support the production of a compact model to be manufactured at its facility in Rosario. GM is the largest producer in the country, accounting for 18.7% of all domestic vehicle manufacture in 2008, according to the Asociación de Fábricas de Automotores de Argentina

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