Brazil’s President Jair Bolsonaro attributed Ford Motor Co.’s decision to close its three plants in Brazil to the end of multibillion-dollar subsidies from the government.Add your comment!
Carmaker Ford said on Monday losses exacerbated by the coronavirus epidemic and fiscal uncertainties would see it close its three factories in Brazil, where it has operated for a century, terminating some 5,000 jobs.1 comment
U.S. automaker Ford on Tuesday announced it will invest 580 million U.S. dollars in Argentina to manufacture the next generation of its Ranger model truck at its plant in the city of General Pacheco, in northern Greater Buenos Aires.
The Argentine auto industry bottomed out in April, the first full month of the quarantine in force in the country since March 20. With all its factories closed since that day, not a single vehicle left the assembly lines, a catastrophe without historical precedent. But little by little, last week they came back to life under strict sanitary protocols, with only one shift per day and production at one-third of the installed capacity.
Mexico's auto industry reopening picked up the pace on Tuesday, with Fiat, Chrysler, and BMW AG joining peers in gradually dusting off operations even as the wait for approvals slowed the return of Ford Motor Co and other companies.
Brazilian automaker CAOA reached an initial agreement to buy Ford Motor Co's plant in Sao Bernardo do Campo, the companies said on Tuesday, but CAOA could slash 1,300 jobs, according to the union representing the plant's workers.
The founder of Brazilian automaker CAOA said on Monday he is negotiating with Chinese business executives to make a joint acquisition of a Ford Motor Co plant near Sao Paulo.
Ford Motor Co said it had reached an agreement with the workers’ union at a historic Brazil plant it plans to shutter by the end of the year, paving the way for a friendly shutdown or potential takeover by a local buyer.
Automobile production in Brazil rose 29.9% in February from January, while sales slipped 0.6%, the national automakers’ association said on Monday. Automakers in Brazil produced around 257,200 new cars and trucks last month, while sales totaled about 198,600 vehicles, according to industry group Anfavea.
Brazilian automaker CAOA, which produces vehicles with Korea’s Hyundai Motor Co and China’s Chery Automobile Co, is in talks to buy a Ford Motor Co plant in the country that is slated to close by 2019, according to sources reported in the Sao Paulo media.