Ford will spend $US156.5m on production of a new car and pick-up truck targeting the Latin American market.
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The automaker, which already makes its Focus sedan and Ranger pick-up at an Argentine plant, is slated to begin production on one of the new models in 2008, with the other scheduled to start a year later, Dominic DiMarco, president of Ford’s South American division, told Reuters.
The report said no other details about the models were announced. They will be produced at Ford’s facilities in Pacheco on the outskirts of Buenos Aires. More than 70% of Ford’s Argentine production is exported to Latin American markets.
Reuters noted that Ford’s investment comes as Argentina, Latin America’s third-largest car manufacturer, enjoys a revival of its auto industry after the country’s 2001-2002 economic crisis.
