TLA TIMES | January 18, 2018
A Snapshot of LatinAmerican News
Figures from Jan. 18 Source: www.xe.com
FUN IN THE SUN
Peugeot chief plants interest in an alliance in Latin America.
Reuters reports that CEO Carlos Tavares says he is open to some sort of alliance in Latin America. Tavares was at a news conference in Detroit, speaking in reference to a statement by Ford saying it plans to restructure its Latin American business, where Ford has been losing money. Tavares said there have been no discussions with Ford so far, and he would not say if any were planned. Details
Argentina finished 2017 with inflation rate near 25 percent.
Consumer prices rose 3.1 percent in December to push the annual inflation rate to 24.8 percent for the year, Fox Business reports. The government had a target of 15 percent. Now officials are admitting they have a long way to go to fix the problem. They have lowered their targets for 2018, 2019 and 2020. The main culprit was public-utility costs, which rose 40 percent last year. Other countries in South America are faring better. Brazil expects to finish 2017 with an inflation rate of less than 3 percent. Details
Chrysler will move some truck production back to Michigan.
The Detroit Free Press reports that Fiat Chrysler will move production of Ram Heavy Duty trucks back to Michigan from Mexico, a move that is expected to add about 2,500 jobs when the shift is completed in 2020. The company says it will pour $1 billion into upgrading its plant in Warren, Michigan. The shift comes after the United States cut its corporate tax rate from 35 percent to 21 percent. The company also announced bonuses for hourly and salaried workers, outside the top executives. Details
Mexico plant isn’t closing-company to build new vehicle.
Mexico News Daily reports the Saltillo plant that is losing the Ram Heavy Duty truck production to a plant in Warren, Michigan, will build another vehicle. CEO Bruno Cattori said in a radio interview that RAM would build some kind of commercial vehicle there after the plant was retooled. Fiat Chrysler said it does not expect any plant closings or job losses in Mexico. Chrysler employs about 10,000 workers at five production facilities in Mexico, and in 2017 the company reached new highs for vehicles and engines built there. Details