With excess capacity and its losses continuing to mount, Ford Motor Co. Chief Financial Officer Henry Wallace says plant closures in Europe remain a “possibility” for the automaker. “It's a possibility, yes,” Mr. Wallace says in response to whether Ford would close European plants. Europe's auto industry overall has up to 6 million units in overcapacity, he says. Mr. Wallace would not disclose which plants Ford may close. “It is clear we have excess capacity,” Mr. Wallace told reporters ...
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