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Forum Post
03/26/07 18:19

RiverQueen

EARTH, MILKYWAY

Automobiles

I found this interesting article in the news today and thought it might answer some questions as to jobs.

"China's emerging carmaker Chery Automobile Co on Friday said it had agreed with Argentine industrial group Socma SA to assemble cars in Uruguay in May, its latest move to branch out abroad.

Chery, owned by the government of Wuhu city in the east, said that the two parties will form a joint venture in Uruguay to make Chery-branded cars with auto parts from China, Argentina and Brazil.

The Chinese company's deputy sales chief, Jin Yibo, told China Daily that it will hold a 51 percent stake in the venture, and Socma the remaining 49 percent.

The venture, with an initial investment of $10 million, will have an annual production capacity of 25, 000 cars next year, Jin said.

Chery said the venture will build two models - a Tiggo sports utility vehicle, the other has still to be decided.

"These vehicles will be sold mainly in Uruguay and Argentina, " Jin said"

This will probably mean a lot of new jobs will be coming open when this factory starts up.

Chery to build cars in Uruguay

Comment #1
03/26/07 19:37

Lee

Pocitos

Not only jobs... but maybe some cheaper cars as they should be less import taxes...

Comment #2
04/01/07 22:15

Sweetness

MAIN STREAM, UNIVERSE

That's very true because they won't be imported if they are built there so the populus benefits both ways... new jobs and lower taxes. I think that's great news for the people of Uruguay.

Let's hope it doesn't take too long to get this in motion.

Comment #3
04/12/07 01:25

usagigirl

neoearth

I think it is a great thing. It seems like the automobile industry is steadily growing. I am sure the jobs would be an added bonus for the Uruguay economy.

Comment #4
04/14/10 09:12

Dan

Norwalk, CT

"cheaper cars"

If I'm not mistaken, Uruguay has always had car assembly plants. One more plant will no doubt be a good thing since more jobs will be created and the economy in general will benefit. I am not sure how this will translate into cheaper cars for the local market (it'd be very nice, though!). If the parts are imported, taxes will still have to be paid...I dunno...

Comment #5
04/14/10 11:18

Alberto

Montevideo

"Lower prices... mmmm..."

Unfortunately I don't think the assembly of cars will lower the prices. As Dan says it's not the only car being assembled in Uruguay. Besides, I'm not sure how much do we really pay in import taxes for cars imported from Argentina and Brazil within the quotas approved by the Mercosur. Maybe those have not import taxes at all (not sure). There are other specific taxes for cars in Uruguay, along with the IVA, wich alone amounts to 22%. So I'm not that optimistic about this in terms of prices for the consumers. Uruguay is already assembling the Tiggo, and exporting to the region; the new Geely investment is to expand the production with more production capacity and new models. Uruguayan industry also produces many parts for the Argentinean and Brazilean plants. The agreements with them in the Mercosur tend to compensate the value of imports of finished cars with the value of exports of parts. Also, there's a particular plant in Uruguay (Branaa) that produces specially processed leather for Mercedes worldwide. If you are fortunate enough to drive a Mercedes (without that being your job) there are good chances that you are sitting on the rests of an Uruguayan cow.

Comment #6
04/14/10 15:31

Jorge & Florence

FLORIDA USA

"Mercedes Benz / Taxis"

In the Seventies and maybe Eighties "Mercedes Benz" where part of the regular Taxi Fleet in Montevideo.

But I don't think they come equipped with rests of Uruguayan cows.

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