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June 5, 2003

BRAZIL: GM to close car plant for 10 days

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.

By bcusack

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.

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.

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