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The Financial Express

Mercedes Benz ends luxury car manufacture in Brazil

| Updated: December 19, 2020 16:35:39


FILE PHOTO: The Mercedes-Benz logo is seen on a car in front of the Mercedes-Benz Museum in Stuttgart, Germany February 11, 2020. REUTERS/Andreas Gebert FILE PHOTO: The Mercedes-Benz logo is seen on a car in front of the Mercedes-Benz Museum in Stuttgart, Germany February 11, 2020. REUTERS/Andreas Gebert

Mercedes Benz said on Thursday that it would wind down car production in Brazil, shutting down its small factory dedicated to producing luxury vehicles in the city of Iraccemapolis, costing some 370 jobs, reports Reuters.

The company said in a statement that the pandemic had caused a drop in demand for luxury vehicles that made it unsustainable to keep the factory open.

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