Brazil has become a hot market for automotive giants around the world and now General Motors is poised to make another significant investment in the country.
General Motors do Brazil will invest R$700million into the development and production of a new Chevrolet model at the Sao Caetano do Sul plant in Sao Paulo. However, this is only the latest in a long line of investments from the company in Brazil as it pours a total of R$5billion into the country from 2008-2012.
The long-term strategy includes updating the Chevrolet portfolio in Brazil and investing in the modernisation of its plants and increasing production capacity. The investments include R$1.4billion for the enlargement of the GM plant in Gravatai; R$600million for the development of a new family of vehicles at the GM Tech Centre; R$170million for duplication and upgrade of the Tech Centre and Cruz Alta Proving Grounds; and R$2.05billion for the modernisation of the Sao Caetano do Sul plant and the development of three Chevrolet passenger cars. Further funding will include R$800million for the development and production of two vehicles at the Sao Jose dos Campos plant and R$50million for the expansion and updating of the Mogi das Cruzes plant.
The investment follows an all-time record year for Chevrolet in Brazil in 2009 with 595,536 vehicles sold and a 19 per cent market share. Brazil is now the third largest GM operation in the world behind the US and China with 18 Chevrolet models available: Celta, Classic, Prisma, Corsa Hatchback, Corsa Sedan, Agile, Astra Hatchback, Astra Sedan, Vectra Sedan, Vectra GT (Hatchback), Omega, Meriva and Zafira SUV, Blazer and Captiva Sport Utilities and the Montana, S10 Single Cab and S10 Crew Cab Pickups.
