Ford's CEO: U.S. Car Market Heading for Recovery
What's the bet that Ford has a whole room full of MBA's who do nothing more than scan the tea leaves of the U.S. economy and powerpoint their prognostications to the Powers That Be? If so, you gotta be a little worried, 'cause Ford CEO Alan Mulally doesn't seem to be. Despite the ongoing slide in American home values (a.k.a. the mortgage crisis) the soaring price of oil (cresting $86 a barrel) and the current downturn in new car sales ('07 looks to be the slowest year since '98), Reuters reports that Big Al sees 2008 U.S. light vehicle sales between 16.3 million and 16.5 million units. In fact, "We've laid out our plans to handle that kind of volume." Yes, well, however theoretical, a rising tide doesn't lift all boats. As Reuters points out, Ford has lost roughly one percent market share per year since the turn of the century, and is set to shut 16 plants and cut more than 50k jobs. Here's hoping The Blue Oval Boyz know something we don't.
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