LONDON — Ford said Thursday that it would cut thousands of jobs across Europe as it struggles to reduce costs amid a drop in profits caused by tougher emissions rules and a declining demand for cars. The carmaker also said a factory in Bordeaux, France, that makes small automatic transmissions would be closed at the end of August. Car sales in the United States appear to have peaked, as incentives like low-interest loans come to an end. Officials in China said this week that car sales there plummeted 19 percent in December, the steepest decline in modern record-keeping that coincides with a broader slowdown of the Chinese economy. In Europe, automakers are grappling with various challenges, including Britain’s looming exit from the European Union, which could result in higher tariffs on cars and car parts.

Source: New York Times January 10, 2019 13:18 UTC