Automotive industry suppliers migrating from Argentina to Brazil:
At least 3 companies which supply the automotive industry have said the closure of factories in Argentina with strategies of migrating to Brazil.
Besides chemicals company BASF & paint and coating manufacturer Axalta manufacturers of automobile paints & resins announcing campaigns earlier this month, France-based vehicle windshield supplier Saint-Gobain Sekurit has newly signed a resignation agreement with 150 employees. Although share of the volumes produced for the OEM market in Argentina are being provisionally transferred to Brazil, the company aims to continue operating in Argentina to serve the aftermarket industry. Operations will endure at its unit located in the city of Tortuguitas in the Buenos Aires metropolitan area.
Ford shuts all plants in Brazil:
Ford Motor Co. declared 12th March 2021 that it is closing all its plants in Brazil, bringing its more than 100-year history in the nation to a close. The Ford Motor Co said in a press release that a decrease in sales, the Corona Virus pandemic & the increase of the US dollar were issues in its decision. The Corona Virus pandemic increased the industry’s persistent idle capacity & the drop in sales, causing in years of major losses, with the closure, an estimated 5,000 jobs will be lost both in Brazil & Argentina. Ford’s decision drives against the robust recovery observed in most segments of the country, many of them already registering results greater to the pre-crisis period.
Lastly, the market research report provides a regional comparison and a complete country – level analysis for the latest trends, along with the major key players in the white automotive market, across the country.
You can browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Brazil Automotive Market”.
https://www.maximizemarketresearch.com/market-report/automotive-market-in-brazil/87000/
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