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Thursday, July 24, 2008

Ford CEO: Expect More Production of Smaller Vehicles in the US

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Alan Mullaly, president and CEO of Ford Motor Company, said the company plans to increase production of smaller vehicles in the coming years.

“I think the die is cast,” Mullaly told FOX Business Network Anchor Liz Claman in an interview at Ford's headquarters in Dearborn, Mich. “It really starts with a point of view about the future…we clearly focused on big trucks and SUVs in the United States and we’ve focused on dynamite cars and smaller vehicles around the world and that’s not a balanced plan.”

Mullaly said the company will increase production of the smaller vehicles as early as 2009, by converting some truck factories to into car factories, while also introducing its fuel-efficient lines of vehicles that are popular around the world in the United States.

“We’re going to have a balanced portfolio of small, medium and large cars, utilities and trucks in the United States where every one in every segment is going to be a fuel efficiency leader,” he said.

The company reported second-quarter earnings before the bell Thursday and posted a $8.7 billion loss.

The company looks to be back into positive growth by 2010.

Click here to watch the second part of the interview

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