Venezuela: Latest automotive news & analysis

Latest news

Ford's Venezuela unit offers buyouts as output dwindles - report

6 Dec 2018 | Graeme Roberts

Ford is offering buy-outs to staff at its moribund plant in Venezuela to reduce its payroll, two union leaders told a news agency, as the automaker seeks to streamline its money-losing South America operations.

Pirelli quits Venezuela as economic crisis grows

11 Sep 2018 | Simon Warburton

Pirelli says it has 'disposed' of its car tyre factory in Guacara, Venezuela and has ceased all activities in the country after 28 years.

Pirelli suspends production in Venezuela

8 Jun 2017 | Dave Leggett

Pirelli says it is indefinitely suspending the production of tyres in crisis-hit Venezuela due to problems securing supplies of raw materials.

Venezuela seizes GM factory

20 Apr 2017 | Graeme Roberts

General Motors reportedly said Venezuelan authorities had illegally seized its factory in the industrial hub of Valencia and vowed to "take all legal actions" to defend its rights.

Ford to halt Venezuela production until April

21 Dec 2016 | Dave Leggett

Ford has suspended its assembly operations in Venezuela and said it is not planning to resume production until April of next year.

Bridgestone to divest Venezuela arm to Corimon

26 May 2016 | Simon Warburton

Bridgestone Americas says it is to divest its business in Venezuela, Bridgestone Firestone Venezolana (BFVZ),to the Corimon Group.

Toyota Venezuela exports parts to offset economic crisis

1 Dec 2015 | Graeme Roberts

Toyota's Venezuela unit has started exporting locally made car parts to generate hard currency income and help it withstand the OPEC country's economic crisis, a media report said.

VENEZUELA: Ford to sell cars for US dollars

11 May 2015 | Dave Leggett

Ford has reportedly said that it will sell some of its cars in Venezuela for dollars in order to import parts and resume production at its Venezuelan facility.

VENEZUELA: Ford and GM roll back operations as economic crisis deepens

29 Apr 2015 | Dave Leggett

General Motors has laid off 13% of its workforce at its Venezuela plant, while Ford has ceased operations at its plant there, as the country's currency control system has led to a shortage of currency.

US: Venezuela woes cost Ford $800m pretax in Q4 2014

23 Jan 2015 | Graeme Roberts

Ford is to take an US$800m pre-tax hit in results for the fourth quarter of 2014 due to the currency woes in Venezuela.

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