Brazilian Market a Booming Free-for-All
While the plan still needs final government approval, BMW is set to become the latest maker to open an automotive assembly plant in Brazil. The new factory is expected to produce about 30,000 vehicles a year once it opens in 2014 in the southern state of Santa Catarina.
Depending on how you measure it, Brazil has become the world’s third or fourth-largest national automotive market. But it’s by no means the only global automaker eyeing additional opportunities. An even bigger Nissan factory, located near Rio, is also set to open in 2014. Learn more
Ford to Shut Two European Factories With 4,900 Jobs Lost
Ford Motor Co. will shut two European assembly plants, its first car-factory closings in the region in a decade, and cut almost 4,900 jobs to stem losses that the company predicts will exceed $1 billion in 2012.
A factory in Southampton, England, that makes chassis cabs for the Transit van will close as early as next year, two people familiar with the situation said, asking not to be identified revealing internal plans. A 48-year-old plant in Genk, Belgium, that builds the Mondeo mid-sized sedan, S-Max wagon and Galaxy minivan will close by the end of 2014, Dearborn, Michigan-based Ford said yesterday in a statement. Learn more
