RIO DE JANEIRO, BRAZIL – In recent years, Ford has changed its strategy in Brazil on several fronts. In terms of products, it has significantly reduced its presence in the car segment to focus on pickups and SUVs – most of them imported.
Moreover, a year ago it abandoned the production of trucks, which led it to close its plant in São Bernardo do Campo, São Paulo. But the most striking aspect is that it has been almost a decade since the American automaker announced any major investment plan for Brazil. The last one, of R$4 billion (US$800 million), expired in 2015.
Following the announcement of a US$580 million investment by the automaker in Argentina, Ford president for South America Lyle Watters, said on Tuesday, December 1st, he expects a gradual rebound of the Argentine economy.
During an online meeting with journalists, Watters said that the stabilization of inflation will be key for the neighboring country to emerge from the crisis. “I expect a gradual stabilization in economic indicators in Argentina,” said the executive.
If Ford’s projections are accurate, the Argentine market should reach a volume of over 400,000 vehicles next year, following a result which in 2020 should fall within the range of 320,000 to 340,000 units.
Yesterday morning, Watters announced to Argentine president Alberto Fernández his plan to invest US$580 million in the production of the new generation Ranger pickup at the Pacheco plant just north of Buenos Aires as of 2023. In addition to modernizing the plant, the investments also provide for a “significant” increase in the nationalization of parts.