Posted on 09/14/2016 2:12:03 PM PDT by Nero Germanicus
Ford Motor Co Chief Executive Officer Mark Fields said on Wednesday that all of the company's small-car production will be leaving U.S. plants and heading to lower-cost Mexico.
"We will have migrated all of our small-car production to Mexico and out of the United States," over the next two to three years, Fields told Wall Street analysts at an investor conference hosted by the automaker.
Earlier this year, Ford said it would invest $1.6 billion in Mexico for small-car production to start in 2018.
Republican presidential candidate Donald Trump has criticized Ford for moving U.S. jobs to Mexico. Fields has responded that as a global company, Ford must compete by making solid business decisions.
The Trump campaign did not immediately respond to requests for comment on Ford's plans.
Ford is expected to post pretax profits of $10.2 billion in 2016, and in the past 18 months has made record pretax profit. The company said earlier Wednesday it expects profits to decline in 2017 as it invests in vehicle development, and hopes to improve its financial performance in 2018.
Fiat Chrysler Automobiles NV said in April it will realign North American plants to emphasize truck and Jeep production over car output. The changes are expected to be completed by early 2018.
(Excerpt) Read more at finance.yahoo.com ...
Ford also said in 2015 that it planned to move production of its Ford Focus and C-Max hybrids cars from a plant in Wayne, to another country by 2018. WAYNE MICHIGAN
Auto Industry Average Labor Costs By Nation
Germany: $26.83/ hr.
U.S.: $23.83
Canada: $19.13
Spain: $16.20
Japan $14.88
South Korea: $12.99
Brazil: $6.17
China: $5.19
Mexico: $3.29
India: $1.09
.
Anyone that buys a small car is an idiot anyway.
Ford’s Compact Car Production Leaving Michigan And The USA — Can You Guess Where Ford’s Going Instead?
I remember a former boss chiding my purchase of a Japanese car, a Nissan. I had him pop the hood on his small Ford truck and showed him my Nissan was more American than his Ford. His Ford was made in Japan with Mazda components.
The Japanese are building small cars and trucks in the U.S.A. Why can't Ford?
Ford’s Compact Car Production Leaving Michigan And The USA — Can You Guess Where Ford’s Going Instead?
Remember when Ross Perot warned us about
"That Giant Sucking Sound?
Well, you can than comrade Bubba Clinton's NAFTA! Imagine what Madam Hillary Benghazi might do (provided there's a sizable donation to the clinton [crime] foundation.)
Traitors
.
Ford, the only company in the world that builds usable pickups and suvs.
To hell with small cars.
(.....not mine!)
The Ford Company's new slogan for this coming year, "Go Farther", will be used by Ford in its upcoming marketing campaign.
(.....there's a great joke in there somewhere).
Leni
.
One word: Unions.
Quite a few on this board worship at the alter of free trade. They enjoy seeing American Joe lose his job to José who will work for $20 a week.
Desperately keep on finding reasons to worship Ford
Note that the investment and the technology comes from the U.S., not Mexico.
In other words, the Ford plants in Mexico will not be “Mexico doing what Mexico does best” as Fwee Traitors usually parrot, because nobody in Mexico knows how to do this at all. It has to be transplanted.
So “free trade” as described by its proponents doesn’t work the way they say it does. Free Trade as they describe it is better defined by the German and Japanese car companies doing what they have been doing: building up their own indigenous industry and marketing those to the world.
If Ford wants to build cars in Mexico for Mexicans at their wage rates, fine. But those cars should be stopped at the border in Nogales. If Ford wants to sell them in Arizona, for example, how bout they build a factory in Tucson? After all, it’s a Right to Work state, the wage rate is relatively low, and allegedly Tucson is still part of the U.S.
There’s a huge airbase there. And a Raytheon plant. They exist to defend Ford property. Think maybe Mark and his deadbeat buddies could spare a bit of investment for all the people who have been buying his crap cars for the last 100 years, but never got a single job from Ford?
In the past 5 years vehicle production in Mexico has doubled, bringing in over US$ 19 billion in foreign direct investment. With production totaling 3.2 million automobiles in 2014, Mexico is now the world’s 4th largest automobile exporter, behind Germany, Japan, and South Korea. In the first 4 months of 2015, 70.2% of vehicle exports went to the United States. Exporting 1.69 million automobiles. Mexico is now the United States’ 2nd largest vehicle supplier, surpassing Japan who had occupied that spot since 1970.
Auto Manufacturers with plants in Mexico
Audi
BMW (under construction/ 3-series sedans for 2019 model year)
Chrysler
Fiat
Ford
General Motors
Honda
Hyundai/Kia (opened this week)
Mazda
Nissan
Toyota
Volkswagon
After WWII, anything built in Japan was considered cheap.. very cheap.. junk.
Since then, Japan has put great emphasis on education. Parents made sure their kids were educated to the highest degree they could get. Look at where Japan is today! 50 years of doing what was right for their future has worked.
Electronics and cars have made them a wealthy nation.
The chiding might be from those who know that Japan and cheap went hand in hand some years ago.
Fix Or Repair Daily
They can just let the illegals drive them across the border to the US dealerships.
Ford makes all of its profit on the F-150. Everything else it makes is dominated by several other vehicles in the same class.
My Mercury Sable has been a good car. Ford didn’t take bailout money. I was looking at the Ford Transit Express, their little van, to transport my wife’s wheelchair.
But if they’re moving production to Mexico, screw that. I’ll keep looking.
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