Operations

Ford Stock Slides

Posted on January 9, 2008 by LCT Staff - Also by this author - About the author

DETROIT — Ford says their stock price dip is merely a reflection of US economic uncertainty, and will have no effect on the company’s plans to roll out new models and shrink itself to match consumer demand, its chief executive said recently.

Alan Mulally said Ford had financing in place to weather an economic downturn and a restructuring plan flexible enough to adjust production to a declining market.

"Clearly, it makes it tougher," Mulally said during an evening-long session with reporters. "We took the actions starting a year and a half ago to deal with this."

Ford's stock slid to $6 a share last week, a 22-year low. The shares fell 6 cents yesterday to $6.10.

Despite deteriorating U.S. economic conditions, Mulally said the firm planned to return to profitability in 2009, and when it did, the stock market would reward it. "There's nothing about the current macroeconomic environment that would change the plan that we have," he said.

Mulally also said his company was not bothered by being passed by Toyota Motor Corp. last year as the No. 2 seller of autos in the U.S. Ford, he said, knew its sales would drop as it moved from a focus on big sport utility vehicles and trucks to smaller vehicles.

SOURCE: Associated Press

View comments or post a comment on this story. (0 Comments)

More News

Windy City Limousine & Bus Wins "Best Of" Award

The company's diverse fleet and years of experience have earned it many achievements.

Fugitaboutit! Operators Deal With New York City Traffic Woes

Weather and mass transit delays always create additional problems, but 50,000 TNC vehicles ratchet up congestion.

Arkansas Operation Recognized As Small Business of the Year

Pinnacle Car Services, Inc. recieved the accolade from the Greater Bentonville Bella Vista Chamber of Commerce.

How To Make Your Buses Comply With The Latest Rules

eNews Exclusive: Joe Guinn guides operators on the best ways to prepare for the large leap from sedans and SUVs to buses and motorcoaches.

What Is The Future Of The New Luxury Traveler?

There is a growing demand for more human connectedness and meaningful experiences for both adults and children.

See More News

Facebook Comments ()

Comments (0)

Post a Comment

Submit

Blog

See More

LCT Store

LCT Magazine - May 2017 $12.95 Post International LCT Show Issue COVER STORY: * Best Operators of 2017: Their Winning Secrets Revealed * *
LCT Magazine - April 2017 $12.95 F&I / SPECIAL EVENTS ISSUE COVER STORY: * Don't Panic: Confronting Worst Fears - Fleet Risks * *



Connect

Experience the three annual industry events for networking for business, showcasing vehicles and products, and getting the tools for success.

Read About Your Region

What’s Happening Near You?
Click on any state to see the latest industry news and events in that region.

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Metro Magazine

Serving the bus and passenger rail industries for more than a century

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

Please sign in or register to .    Close