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Ford increasing output as sales steady

Posted Friday, Jun 26, 2009, 11:10 am in Employee News

Last modified on Friday, Jun 26, 2009, 11:11 am.

Ford Motor Co. is poised to take advantage of steadier auto sales and increasing U.S. market share by stepping up production, CEO Alan Mulally said Thursday, Reuters reported.

Mulally also said the automaker would use the $5.9 billion in federal loans it was awarded this week to fund its established investment plan, the story said. “Our business plan assumed about the amount we got,” Mulally told Reuters. “It’s very consistent with our plan.”

Ford, the only U.S. automaker to have avoided a government-sponsored bankruptcy, has been gaining retail market share in the United States and announced plans earlier this month to bump up production for this quarter and the next, the news service reported. Automakers book revenue when vehicles are sold to dealers. A rebound in output is seen as crucial to any turnaround for the industry after the deep cost cuts by Ford and others in recent years, the story said. (Reuters/Automotive News)
 
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