Ford to stop manufacturing cars in India

Ford Motor will stop manufacturing cars at two factories in India, ending a long and costly effort to establish a presence in one of the...

Ford Motor will stop manufacturing cars at two factories in India, ending a long and costly effort to establish a presence in one of the world’s largest emerging auto markets.

The company said on Thursday it would halt production at a factory in Sanand, western India this month, and stop manufacturing vehicles and engines in the southern city of Chennai next year. .

Ford has lost more than $ 2 billion in the past 10 years in India, company chief executive Jim Farley said in a statement. “We are taking the tough but necessary steps to deliver a long-term profitable business and allocate our capital to growth and value creation in the right areas. “

Other major automakers have also struggled to gain a foothold in India, where people tend to buy smaller, more affordable cars than in the United States and Europe. General Motors stopped selling cars in the country in 2017. About half of all new cars sold in India are made by Maruti Suzuki, in which Suzuki of Japan has a controlling stake.

India’s withdrawal is the latest move Ford has taken to reduce losses from its international operations. In January, the company announced that it close its three factories in Brazil Before that, he closed several factories and cut several thousand jobs in Europe.

Separately, Ford said Thursday it would idle a truck plant near Kansas City, Missouri, next week due to a global shortage of computer chips. The plant manufactures the F-150 pickup truck and the Transit van and is expected to resume production on September 20. Wayne, Ind., And Silao, Mexico.

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Newsrust - US Top News: Ford to stop manufacturing cars in India
Ford to stop manufacturing cars in India
Newsrust - US Top News
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