BRAZIL: Renault cuts production - report
Renault will halt output at its only Brazilian plant for a few days later this month and send 1,000 workers on forced leave due to weak demand, Reuters reported. The report said Renault's move followed similar work stoppages by competitors such as General Motors, Volkswagen and Ford amid an economic slowdown in Latin America's largest economy due to high interest rates, which has also affected Brazilians' purchasing power as credit became more expensive.
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