Events Calendar
In This Section
Stocks slump after rise in unemployment rate
Boeing to cut 4,500 jobs as airline demand falls
U.S. retailers slashed 66,000 jobs in December
Jobless rate jumps to 7.2 percent in December
Federal loan deals bar strikes at GM, Chrysler
Group says U.S. 'wet dumps,' like nine in Ohio, pose threat
U.S. retailers ring up dismal sales
Most Read Stories
Lakemore police say man killed his wife in standoff
Storm could bring heavy snow tonight, Saturday; Parking bans in effect
Palin says she's been exploited by Couric and Fey
Suspect in Lakemore standoff expected to recover
Suspected meth lab busted in Cuyahoga Falls
Police raid Akron gaming parlor
Skeptics urging check of home program
Blogs:
Akron Law Café:
College Football is Un-American
The Heldenfiles:
Thursday Viewing: "Grey's Anatomy," "Private Practice"
Tribe Matters:
Shapiro puts Indians in position to win
Patrick McManamon:
ESPN clears up a key to tonight's game
Browns Bulletin:
Browns may interview ex-Broncos GM
Cleveland Browns:
Mangini takes command
Cleveland Cavaliers:
Cleveland Cavaliers: Of Leprechauns and Losses
CavsHQ: A Fan's View:
The Countdown Begins - Cavs v. Celtics
Akron Zips:
Five things you should know about Miami
Varsity Letters:
Ignatius’ Kyle has busy offseason
Kent State Sports:
Volleyball players earn All-Academic honors
Car Chase:
January is auction time
See Jane Style:
Chicago Chic?
All Da King's Men:
Obama's Economic News Conference
Blog of Mass Destruction:
Shameful Things
HRLite House:
The Psychology Channel, Interesting Videos, Jobs in I-O, and Happy Birthday Elvis
Akron Gamer:
Games in '09: Resident Evil 5
Ohio Travels with Betty:
Does Ohio have an Andy Warhol Museum?
Sound Check:
Axl Rose speaks on Guns & Rose(s)
Let's Talk Real Estate:
Mortgage Forgiveness Debt Relief Act of 2007 Extended
CEO hopes to return automaker to profitability by boosting sales of crossover SUVs, small cars
Published on Tuesday, Sep 25, 2007
Bloomberg News Service
Ford Motor Co. is focusing on small cars and crossover sport utility vehicles to increase sales in North America and restore profit, Chief Executive Alan Mulally said.
''The U.S. is a tremendous market where we still have plenty of room to grow our business,'' he said in an interview Monday in Nanjing, China. ''The only thing we're doing right now is North America.''
Mulally is trying to stem a 13 percent drop in U.S. sales through August, which allowed Toyota Motor Corp. to pass Ford for the second spot behind General Motors Corp. Ford car sales fell 25 percent as it trimmed low-profit business with fleet customers such as rental companies. Its light-truck sales slid 4.8 percent.
Ford's Edge and Lincoln MKX crossover SUVs have helped limit the light-truck decline. The company's focus on the SUVs and small cars will help toward its goal of ''returning to profitability by 2009,'' Mulally said. Ford's net loss last year was a record $12.6 billion.
U.S. industrywide sales this year may fall to 16.2 million, their lowest level since 1998, according to CSM Worldwide. That might make Ford's goal in the United States even more difficult, as the Dearborn, Mich., company continues to lose market share.
Ford hasn't yet set a timetable for replacing its North American sales and marketing chief, Francisco Codina, who is stepping down Nov. 1, Mulally said.
''We will be looking both inside and outside the company,'' he said.
In the meantime, the sales and marketing staffs will report to Executive Vice President Mark Fields, who oversees Ford's Americas unit, Mulally said.
Ford shares rose 25 cents, or 3 percent, to $8.48 on Monday.
They have gained 13 percent this year.
Bloomberg News Service
Get the full article here.
Comments
Click here to post your comments