Ford to close plants in India
The Wall Street Journal: Ford Motor Co. announced it will stop making cars in India, a blow to India’s domestic manufacturing drive that highlights the difficulty that automakers have in entering that market. Ford said it would shut manufacturing operations in Sanand, in the western state of Gujarat, and in the southern city of Chennai after accumulating more than $2 billion in losses during the past 10 years. The company, which made the announcement on Thursday, cited weaker-than-expected demand for its new vehicles. CEO Jim Farley called the move difficult but necessary to stay profitable and focus on growth. Ford said the closures would affect 4,000 jobs.