Ford to end manufacturing in India, take $2 billion hit
- 3 years ago
Ford Motor will stop manufacturing in India and take a hit of about $2 billion as it does not see a path to profitability in the country, becoming the latest automaker to leave a major growth market dominated by Asian rivals.
The decision by Ford comes after it struggled for years to win over Indian consumers and turn a profit.
In its statement, Ford said it accumulated operating losses of more than $2 billion in 10 years in India and demand for its new vehicles had been weak.
The decision by Ford comes after it struggled for years to win over Indian consumers and turn a profit.
In its statement, Ford said it accumulated operating losses of more than $2 billion in 10 years in India and demand for its new vehicles had been weak.