Ford feels US economy pressure

Posted on 9 Jan 2008 by The Manufacturer

Ford chief executive Alan Mulally has expressed his concern over the slowing US economy following continued poor sales in 2007.

The company’s US sales dropped by almost 3 per cent to 16.14 million units last year, following previous marked losses in 2006, which had prompted a restructuring programme to be introduced. This programme continues to be enforced and aims to return North American operations to profitability by 2009.

“For us, any slowdown in the economy – the housing industry, financing of vehicles, tightening credit, housing starts – puts a lot of pressure on consumer confidence to big-ticket items,” said Mulally. “Clearly, it makes it tougher. We took the actions starting a year and a half ago to deal with this.”