Ford has adequate liquidity to continue its policy of not taking federal bailout funds, chief executive Alan Mulally told a US TV channel.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
“Absolutely not. We have sufficient liquidity,” Mulally told Fox Business Network . “That’s been the plan all along and I feel really good about where we are supporting customers coming out of this recession.”
According to Dow Jones, Mulally also called this summer’s ‘cash for clunkers’ government-funded incentive programme a “tremendous stimulus.” “That’s what it was made for,” Mulally said. “Most of the customers would have kept their cars for a long term. The average fuel mileage of the vehicles turned in was about 15mpg and the average (of those) purchased was about 25mpg.”
Mulally said Ford has no plans to import cars to the US from Asia, despite investing in plants in China.
“Our plan is that every place around the world will make the cars where we sell them,” he said.
