Ford puts brakes on operations in South America’s largest oil producing nation - Panorama Insurance Brokers

Ford puts brakes on operations in South America’s largest oil producing nation

(AP) — Ford Motor Co. said Monday it will close three plants in Brazil and stop producing automobiles in the South American country where it has been operating since 1919.

The company said in a statement it will cease production immediately at the factories “as the COVID-19 pandemic amplifies persistent industry idle capacity and slow sales that have resulted in years of significant losses.”

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