In Argentina, Ford and GM are Selling Autos At Cost to Survive -- In America, They Beg for Taxpayer Money

Take a look at what Ford and GM are doing in South America. Yet here, they have the "audacity" to take taxpayer money to feed the greedy UAW workers.

Argentine automakers will sell basic models at cost through state-subsidized loans in a plan to protect jobs in Latin America's third-biggest economy from the global economic slowdown, government officials said on Saturday.

Local plants of Renault SA, General Motors, Peugeot, Ford Motor Co. and other automakers will participate in the government's plan to protect 150,000 auto industry jobs and to keep production from falling steeply next year.

"We have agreed with the plants that these cars will be offered without a profit margin and the dealerships will also reduce their profit margin," Industry Secretary Fernando Fraguio told a news conference on Saturday.