Brazil is most profitable operation of GM
Valor Econômico
When Colombian economist Jaime Ardila took over the command of the operations of General Motors in Brazil and in the Mercosur, in November 2007, his predecessor tranquilized him. Canadian Ray Young, currently in the international command of the finances of the company in the United States bet Ardila would have plenty of time for his desired golf practice, since the activity of the company was under control, in clear growth. Ardila, who so far only knew how to play tennis, says he learned little of golf in these two years. "I started using the time of the practice to listen more to what others said of the crisis of GM in the United States", he says.
After the period of turbulence at the headquarters has passed, the company takes advantage of the growth and profitability in order to promote GM do Brasil. Ardila says that, for the first time, Brazil was the most profitable region for the company, surpassing the growing operation in China. The news of the recent award received by its latest launch, Agile, from a specialized Brazilian magazine has even been included in the quarterly balance report the company released in the United States. "We have got to the end of the year with a happy ending, as it happens in the last chapter of the soap operas", says the CEO of GM.
The only thing that now disturbs the Officer is the news from Dubai. "Important banks have been exposed in this crisis", he affirms. "Brazil is well prepared regardless of the international difficulties, but a crisis like this can hinder the offer of credit", he says. In the Brazilian market, Ardila is also sure the increase in the demand should lead to an increase in the basic interest rate. In spite of that, the car maker is getting ready for the growth of the domestic market, which may get to 3%, says Ardila, over a total sales of nearly 3.1 million cars in 2009.