General Motors will shut a Brazilian plant for 10 days in late June and early July to reduce inventory, a move that will affect 8,000 workers, according to a Bloomberg News report, which noted that GM, Ford and other car makers are hurting as high interest rates and unemployment curb local demand for new cars.
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The report added that Ford may temporarily close a factory in Sao Bernardo, outside Sao Paulo, to try to reduce inventories, and said that the company is negotiating a shutdown with unions representing 4,000 workers at the factory.
New vehicles sales in Brazil fell 5.7% in the first four months of 2003, Bloomberg News added.
