Ford Ready To Sell Russian Plants

[ThunderBlade + 231]

Ford Motor Co is ready to sell its idle Russian plants and sees interest from potential buyers, the carmaker’s Europe chairman said in St. Petersburg on Friday. The company had announced in March that its Russian joint venture Ford Sollers would close two assembly plants and an engine factory in Russia, exiting the country’s passenger vehicle market. “We are open to discuss potential sales to other companies,” said Steven Armstrong on the sidelines of the International Economic Forum. “We have had interest from a number of different companies.”

[Pavel + 384]

Ford Vehicles Sold to Dealerships 2018
 

2,540 K 🇺🇸US
1,533 K 🇪🇺Europe

731 K 🇨🇳China
387 K 🇬🇧UK
313 K 🇩🇪Germany
295 K 🇨🇦Canada
235 K 🇧🇷Brazil

98 K 🇮🇳India
86 K 🇦🇷Argentina
69 K 🇲🇽Mexico
65 K 🇹🇷Turkey
65 K 🇦🇺Australia
51 K 🇷🇺Russia

[pinto + 293]

Worst case scenario: Ford losing $ 400M, and closing factories in Germany, France and Russia.

[francoba + 93]

Bad news are coming together...

 

http://fortune.com/2019/06/06/ford-will-shutter-u-k-engine-plant-extending-string-of-closures-across-europe/?utm_source=twitter.com&xid=soc_socialflow_twitter_FORTUNE&utm_campaign=fortunemagazine&utm_medium=social

 

[damirUSBiH + 327]

Declining sales mean Ford have lost $ 398 million in Europe, and they are restructuring operations across Europe and Russia. So, key word is "restructuring". It's a corporate-speak for closures and job losses. Closure of plants in France, Germany and Russia. Also, Brexit has caused a reduction in car sales of some models.

[Ward Smith + 6,615]

If only Ford would learn to build the cars people in Europe want, instead of continually repackaged "Fiesta" models.