Ford To Stop Automobile Production In Brazil, Closing Three Factories - Company

MOSCOW (Pakistan Point News / Sputnik - 12th January, 2021) Ford Motor Company has announced the closure of three plants in Brazil and said it was halting Ford Brazil production activities this year.

In a Monday statement, the company said that production activities at the Camacari, Taubate and Troller facilities would be halted in 2021 because of slow sales and significant losses caused by the coronavirus pandemic.

"We are moving to a lean, asset-light business model by ceasing production in Brazil," Ford president and CEO Jim Farley said, as quoted in the company's statement.

Ford will continue to supply the Brazilian market with automobiles produced in Argentina, Uruguay and elsewhere.

Brazil's Vice President Hamilton Mourao told CNN Brazil that he was surprised by the company's decision, considering that it has been operating in Brazil for over 100 years. Mourao said the Brazilian market was more important, due to its size, than the markets of other countries.