Sofasa To Cut Jobs In Colombia

Renault and Toyota are the latest carmakers operating in Colombia to announce measures in response to Venezuela's decision to restrict the number of vehicle imports entering the country. The companies are represented in Colombia by the local manufacturer Sofasa, which produces and sells their vehicles via a strong dealership network. In the latest development, Sofasa says it will cut vehicle production this year by 22,000 units and shed some 374 jobs as a direct result of the industry having to lower exports to Venezuela. Sofasa's plans come on the back of General Motors, the other industry major operating in Colombia,

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