The automaker, which had a less than 1 per cent market share in Indonesia, is also facing a potential lawsuit from its dealers there who demanded around US$75 million (RM310.1 million) in compensation after its move to withdraw from Southeast Asia’s biggest auto market.
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The company recently bought Chariot, a crowd-sourced shuttle service in San Francisco, and is partnering with bike-share company Motivate. “For years, we have thought about the thing and how many things we sold”, Fields said.
Ford did not give a precise figure for how much more profits could fall in 2017. “We’re focused on usage where miles traveled be”.
By the end of the next decade, self-driving cars will account for 1-in-5 vehicle sales, Ford forecast. The stock is down nearly 14 percent so far this year.
The Ford president also confirmed that the company will shift all North American small-car production to Mexico and will simplify production in a new $1.6 billion Mexican assembly plant. But the suburban Detroit plant will get new products.
Republican presidential candidate Donald Trump lamented Ford’s decision while speaking Wednesday at a church in Flint, Michigan.
Suara Pembaruan, citing an unnamed source, said Ford modified the seven-seater vehicles made at its Thailand factory into 10-seaters before importing them and then subsequently changing them back into seven-seaters for sale.
WATCH IT, TESLA: Ford technology chief Raj Nair suggested that Tesla Motors’ semi-autonomous Autopilot system was put into public hands too early. A driver whose vehicle was using the system died in Florida in May in a collision with a tractor-trailer.
Ford said it also is investing in the traditional business that still makes all its money. The CEO said the automotive business needs to deliver profit margins of 8 percent or more, while emerging businesses will need to deliver margins of 20 percent or higher.
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Ford expects its first fully automated models to be road-ready by 2021, regulators permitting. Washington told The Cube that this is a “pivotal time in human history” leading to a future in which Ford will be making autonomous vehicles for the masses. “Investors are so focused on when the next recession is coming and what happens to auto stocks in the recession, they’re not paying a huge amount of attention to whether GM’s strategy of spending big to position itself for the next era of mobility or Ford’s strategy of going late with less of a checkbook is the right one”, Barclays Capital analyst Brian Johnson said on Tuesday.
