MOSCOW: Ford is closing three factories in Russia citing low customer demand. Ford says that it will close vehicle assembly plants in St. Petersburg and Naberezhnye Chelny, as well as an engine plant in Yelabug, claiming it will stop making passenger cars in Russia by the end of June.
The U.S. carmaker blames a slow recovery in the Russian car market after an economic slowdown in recent years, and moves toward cheaper cars.Ford will now focus solely on commercial Transit vans in Russia through its Ford Sollers joint venture.
(Agencies)
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