Tags: Ford | Official | Double-Dip | Recession

Ford Official: Car Maker Doesn’t Expect Double-Dip Recession

Wednesday, 25 Aug 2010 03:13 PM

Ford is poised to react to a weakening economy but does not expect a double-dip recession, the automaker's president of the Americas Mark Fields said Wednesday.

"At this point, we don't see a double-dip recession," said Fields to a group of reporters near Ford's headquarters in Dearborn, Mich.

Fields did not say how Ford would react if the economy weakened further. He also said it was too early to say whether recent weak U.S. government housing sales figures would hurt Ford or U.S. auto industry sales.

The sales rate for the U.S. light vehicle market for August will be somewhere between 11 million and 12 million vehicles on an annualized basis, Fields told reporters.

The recession of 2008 helped drive U.S. auto sales to lows not seen since the early 1980s.

© 2017 Thomson/Reuters. All rights reserved.

 
1Like our page
2Share
Companies
Ford is poised to react to a weakening economy but does not expect a double-dip recession, the automaker's president of the Americas Mark Fields said Wednesday. At this point, we don't see a double-dip recession, said Fields to a group of reporters near Ford's...
Ford,Official,Double-Dip,Recession
131
2010-13-25
Wednesday, 25 Aug 2010 03:13 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved