Ford betting on Brazil

Now that the US auto market is in the dumps, car makers are desperately looking for growing markets. One of those places happens to be Brazil. The Estadão reports that the President and CEO of Ford, Alan Mulally, met with President Lula today and announced that the US based company will up their investment in the country. Over the next five years, Ford plans to invest R$4.5 billion (US$2.53 billion) in their Brazilian operation. The EcoSport, a model designed in Brazil, will be produced domestically and exported to other markets.

Ford EcoSport

Ford currently stands in 4th place in Brazilian market share for cars and light trucks behind Fiat, Volkswagen, and GM.