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GM, Ford take measures to address problems in Venezuela

With the currency situation in Venezuela continuing to worsen, GM has resorted to layoffs while Ford, which has cut production, is considering that as an option

Vehicle manufacturers operating in Venezuela have, for a while now, been plagued by a shortage of US dollars, which has adversely affected their abilities to import required components and materials. As a result, OEMs have found it increasingly difficult to sustain production operations.

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