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Ford Closes All Factories in Brazil Published January 12th, 2021 - 11:00 GMT
The company said in a press release that a drop in sales, the COVID-19 pandemic and the rise of the US dollar were factors in its decision. (Shutterstock)
Highlights
Politicians and businessmen blame subsidies and government
Ford Motor Co. announced Monday that it is closing all its factories in Brazil, bringing its more than 100-year history in the country to a close.
The company said in a press release that a drop in sales, the COVID-19 pandemic and the rise of the US dollar were factors in its decision.