Earlier this year, the Dearborn, MI-based company said it would invest $1.6 billion in Mexico for small auto production to begin in 2018, Reuters noted. Ford has said it continues to invest heavily in its USA plants and isn’t cutting jobs here.
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“That is correct”, he said.
The company is building a new $1.6bn assembly plant in San Luis Potosi, Mexico.
Ford, in a statement, said: “It’s unfortunate that politics are getting in the way of the facts”. Yet, even if the auto sales in the United States slump to 11 million next year, Ford’s Chief Financial Officer Mr.
Fields has previously responded to Trump’s criticism by saying that as a global company Ford must compete by making solid business decisions. Why not create more jobs in America?
“This transaction is an absolute disgrace”, Trump said in an April statement, according to CNBC. And we’ll have nothing but more unemployment in Flint and in MI.
Fields refused to comment on Trump’s threat of a 35 percent tariff on American cars coming in from Mexico. The second-largest US automaker said it plans to reduce costs annually by $3 billion between this year and 2018.
Ford’s small-car production will be relocated from US manufacturing plants to Mexico over the next two to three years, Fields said at the automaker’s investor conference on Wednesday.
Ford is holding its annual investor conference this week, and one of the big but not surprising announcements the company made was that it’s moving all of its small-car production out of the USA and into Mexico.
Ford has 85,000 USA workers, up 50% over the last five years. He told investors of the move to shift the production of the Ford Focus to Mexico on Tuesday. – USA vehicle maker Ford warned its shareholders on Wednesday that company profits will decline in 2017 as the company will increase its investments in new technologies.
Ford said there will be zero job losses in the U.S.as a result of the new plant in Mexico.
– ADIOS, SMALL CARS: Ford confirmed all of its USA small auto production is moving to Mexico.
Ford said it also is investing in the traditional business that still makes all its money.
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Mexico has seen a 40% increase in auto jobs since 2008 to 675,000 past year while the USA saw only a 15% increase in the same period to more than 900,000, according to the Center for Automotive Research in Ann Arbor.
