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.