Ford announces plant closures and lay-offs

Sagging Volvo Best Within Ford

The newspaper “Dagens Industri” reports that Volvo Cars’ profits dropped significantly last year.

The newspaper says the 55 percent plunge was mainly due to reduced sales in the United States and the weakened dollar.

Nevertheless, “Dagens Industri” says Volvo Cars is the division of the Ford Motor Company that is doing best.

The news came the same day that Ford announced plans to close shut 14 plants and lay-off 25,000-30,000 employees in the United States.

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