FORD's news * USA: Trump's claim rebutted by CEO Mark Fields
* Michigan - Ford fires back at Mexico criticism, citing boom in US truck output
--- Ford Motor Co. pushed back against criticism by Republican presidential candidate, Donald Trump, for moving work to Mexico by highlighting its booming business in big trucks after shifting production to an Ohio factory from south of the border... The automaker began building F-650s and F-750s--think dump trucks, beer haulers, tow trucks and furniture vans--near Cleveland a year ago after a joint venture in Mexico disbanded in 2014. Through August, their sales have jumped 59% from the same period in 2015, Ford said in a statement Monday... For Ford, the convoy out of Cleveland shows the benefits of the strategy that Trump is criticizing: shifting production of lower-margin small cars to Mexico, where workers are paid less, while using U.S. factories to build its biggest, high-profit vehicles. Trump last week called Ford “a disgrace” that’s cutting U.S. jobs, a claim rebutted by Chief Executive Officer, Mark Fields, he said the company is “absolutely not” cutting U.S. jobs to move small-car operations south because the Michigan plant currently building them will manufacture other models... Ford derives most of its profit from its F-Series truck line, Morgan Stanley has said. And the largest vehicles in the line generate the biggest return, according to analysts...
(Photo: New FORD F-650 and F-750 trucks) -- Dearborn, MICH, USA - Bloomberg/Industry Week - Sep 19, 2016
Labels: truckmakers news USA