Ford CEO: Light Trucks Are Toast
In a video interview with USA Today. Ford CEO Alan Mulally admits that American consumers' switch to smaller, more fuel-efficient vehicles is permanent. Despite talking-up the new F150's chances of success, Big Al reckons the move from light trucks is "not a temporary shunning of big SUVs while they wait for record fuel prices to drop." Which Mulally says ain't gonna happen, anyway. "It's not like we have a shortage of oil, but recovering what's left under the earth has become very expensive, ensuring continuing high prices." When asked for a new date for The Blue Oval's scheduled return to profitability– previously set at 2009– the former Boeing exec would only say it's delayed by a weak economy and the shift from "high value trucks" to smaller cars. The video clips are interesting to watch, and much less painful than anything from Lutz or Wagoneer. But the spin doesn't stop here. Asked about Volvo, Mulally claimed the ailing Swedish brand isn't for sale. Last April, Mulally told the world Jaguar wasn't for sale. That deal went down yesterday.