A slowdown in the US economy could help Ford speed up cost reduction measures.
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According to the Wall Street Journal (WSJ) Online, Ford executive vice president Mark Fields said that a slowdown in the US economy would make it more difficult for the firm to meet 2008 and 2009 financial targets. In this case it would need to accelerate cost cutting mesasures.
Fields told the WSJ that Ford’s turnaround in North America is proceeding well and the automaker expects to be profitable again in 2009.
Fields said Ford has already planned to keep production in the fourth quarter at a low level to avoid building up costly excess stock.
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By GlobalData
