Post Tagged with: "South America"

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Brazil expected to fall even deeper in 2015

Brazil expected to fall even deeper in 2015

The Brazilian auto market, the largest in South America, has gone in reverse recently and the situation is expected to last, according to the country’s industry trade group, Anfavea. Many global automakers have now come to depend on the market’s rise for revenue, but the strong headwinds encountered recently are […]

Magna hit by antitrust regulator probe in Brazil

Magna hit by antitrust regulator probe in Brazil

Magna International’s shares dropped the most in over two years after the company announced it received a visit at the auto-parts maker’s Brazilian headquarters from the country’s antitrust authorities. Auto parts suppliers around the world have been subject to numerous monopoly practices investigations in recent years, the most famous being […]

Ford braces for big loss in South America

Ford braces for big loss in South America

The US automaker said it’s forecasting for the second quarter big losses in its South American operations, with the key factors being Venezuela’s foreign exchange rate changes and the region’s slowing sales. According to the company’s executive vice-president, Joe Hinrichs, Ford is also preparing for a full year of losses […]

Report – Ford halts Venezuelan production

Report – Ford halts Venezuelan production

According to the facility’s workers, the No.2 US automaker, Ford, has decided to suspend vehicle assembly in the South American country as the lack of foreign currency prevents the plant from importing its necessary supply of automotive parts. The workers, which reported the production stoppage under condition of anonymity, have […]

Venezuela wants to regulate car prices to stop inflation

Venezuela wants to regulate car prices to stop inflation

In the latest move to control the highest inflation rate in the Americas, President Nicolas Maduro’s socialist government issued a decree regulating the prices of used and new cars. Maduro, 51, who won a vote to succeed late president Hugo Chavez after his death from cancer earlier this year, has […]

Ford thinks Europe is ready for progress again

Ford thinks Europe is ready for progress again

Ford is doing very well in its North America home region, but company executives are now “happy” that Ford’s three other key ares – South America, Asia Pacific and Africa and Europe – posted a combined profit for the quarter for the first time since the second quarter of 2011. […]