Ford remains committed to improving its balance sheet and reducing debt but has no current plans to issue additional equity, president and CEO Alan Mulally said in a statement.
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He said the automaker’s ongoing and long-term transformation plan remained centred on “aggressively” restructuring to operate profitably at the current demand and changing model mix, speeding the development of new products that customers want and value, financing the plan and improving the balance sheet, and working together as one team, leveraging Ford’s global assets.
“We think we are right on track to start this recovery in the second half,” Mulally told Reuters on the sidelines of an an event promoting the Taurus sedan.
Any uptick in the US economy would help US vehicle sales recover from their near two-decade lows that have sent two car companies into bankruptcy as well as some auto suppliers.
US industry sales for first part of June were “a little better” than May, said Ford’s president of Americas unit Mark Fields, who was also present at the event.
