Ford Motor Co. ’s decision to stop making cars in India deals a blow to Prime Minister Narendra Modi’s domestic manufacturing drive while highlighting the difficulty foreign auto makers have gaining a foothold in the market.
On Thursday, Ford said it would shut manufacturing operations in Sanand, in the western state of Gujarat, and in the southern city of Chennai after accumulating more than $2 billion in losses during the past 10 years. It cited weaker-than-expected demand for its new vehicles.
