For the CEO of General Motors Argentina, inflation is a concern
Isela Costantini, head of the local branch, warned of rising costs and their effect on competitiveness. However, he stressed the potential market.
Although General Motors (GM) announced in late October an investment of $ 450 million to build a vehicle plant global Rosario, the president of the company in Argentina, Isela Costantini, said he was “concerned about inflation.”
“When you have inflation that sum every year, has a negative effect in the long term,” said the executive and concerns raised by the automotive “how to keep labor costs” without losing global competitiveness.
In an interview with the financial sphere, the CEO of GM Argentina stressed the interference within the Mercosur market with patenting of 900,000 vehicles per year.
“When you see between the highs and lows that any emerging country has, we see that there is growth and there is an expectation of growth in Argentina,” said the executive.
Against this background, Costantini admitted that they are not a “company we look the results of the month or the last year, but we are seeing what happened in the last fifteen years”, leading the company with its own production plant in Rosario. “We could not continue to invest in this country,” he said.
In this sense, Costantini said that of the $ 450 million, or $ 150 million will go to “the conversion of the plant to produce a global car in Argentina”.
However, the executive acknowledged that “2013 is a big question. Still have two months until the end of the year to see how close the 2012. If there is little or no slowdown. But overall we are seeing a lot like 2013 to 2012, with the same level of patenting “.