Ford Is Shopping Its Money-Losing South American Unit to Rivals
- Fiat Chrysler, VW are said to have been approached by Ford
- Losses in region are drag as Ford invests in electric cars
Photographer: Daniel Acker/Bloomberg
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Ford Motor Co. is pondering an exit from the South American market and has started shopping its money-losing business there to rivals Fiat Chrysler Automobiles NV and Volkswagen AG, according to people familiar with the matter.
The automaker made overtures to several competitors while considering its options for the unit, said the people, who asked not to be named because the conversations were private. Dearborn, Michigan-based Ford hasn’t shown a pretax profit in South America since 2012 and has lost $4.2 billion in the market since then.