Ford Finalizes Russian Exit With Joint Venture Sale
The automaker suspended its operations there back in March.
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The automaker suspended its operations there back in March.
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Ford's operations in that country were already winding down.
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With a whopping 41 percent segment share.
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Sollers Ford scores a massive contract with the Russian government right as COVID-19 threatens to tank its sales.
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Sales have declined 70 percent to 7,336 units during the first eight months of 2020.
Read More »It outsold all models in the segment despite a 56 percent decrease in sales.
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Sales decreased 77 percent to 3,410 units during the first five months of 2020.
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Ford is sending owners a video breakdown of work needed and costs.
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A significant reduction caused by the closing of two local plants.
Read More »Lots of new electrified Fords are on the horizon.
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There is no word on what sort of severance package workers accepted.
Read More »Ford says that about 12,000 jobs will be lost by the end of 2020 in Europe.
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Details on how many jobs the revised partnership might save, if any, are scarce.
Read More »Russian workers want twice their annual salary in severance.
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Ford continues to take it on the chin in Europe.
Read More »Job losses in the region will be "significant" with no hard numbers.
Read More »Ford's global restructuring continues with Russia up next.
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A greater quantity of Russian-built parts could make their way into Ford Europe products.
Read More »Ford's Russian joint-venture is looking at adding to its local capacity, counting on a strong economic recovery.
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Flame decals? Pfft. This Russian woman is going for the real thing.
Read More »As a weakened Ruble and frail economy continue to take a toll on the Russian market, Ford's unit there looks outside the country's borders.
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