Ford: exits truck business in South America
(CercleFinance.com) - Ford will exit the commercial heavy truck market in South America as part of a redesign of its global business, the US carmaker said on Tuesday.
The company said it plans to cease production at its Sao Bernardo do Campo plant in Brazil during 2019, ending sales of the Cargo truck, F-4000 tractor and F-350 pickup truck once inventories are sold.
The move also concerns production of the small Fiesta car, it said.
Ford - which is trying to return its South America operations to profitability - expects to record charges of about 460 million dollars as a result of this decision.
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The company said it plans to cease production at its Sao Bernardo do Campo plant in Brazil during 2019, ending sales of the Cargo truck, F-4000 tractor and F-350 pickup truck once inventories are sold.
The move also concerns production of the small Fiesta car, it said.
Ford - which is trying to return its South America operations to profitability - expects to record charges of about 460 million dollars as a result of this decision.
Copyright (c) 2019 CercleFinance.com. All rights reserved.