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Ford expects sales to increase by 50 percent by 2014
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06/07/11 05:04 PM ET
Continuing the recent string of good news for the American automakers, Ford Motor Company said Tuesday that it expected its worldwide sales to go up 50 percent by the year 2014.
Ford, the lone American car company that did not take a government bailout in 2008, is enjoying part of a renaissance alongside Chrysler and General Motors. The latter two-thirds of the companies commonly-referred to as the "Big Three" have announced recently they are repaying their government loans early and investing $2 billion in new plants.
On Tuesday, Ford chimed in that expecting sales of its global product to go up to about 8 million vehicles. Currently, Ford sells about 5.3 million cars around the world, the company said.
"Ford is a growing company operating in a growing global automotive market,” Ford CEO Alan Mulally said. “Through our One Ford plan, we are increasing our product investments to meet this growing demand with a full family of best-in-class products.”
Ford said its operating margin globally to go up from 6.1 percent in 2010 to 8 or 9 percent. In North America, the company said the margin would between 8-10 percent.
The status of the auto companies has emerged as a political flashpoint recently as Democrats have looked for signs of economic growth to defend President Obama's record heading into the 2012 election. Earlier Tuesday, President Obama use the recent news auto industry to provide evidence the country wasn't facing a double-dip recession.
Ford, the lone American car company that did not take a government bailout in 2008, is enjoying part of a renaissance alongside Chrysler and General Motors. The latter two-thirds of the companies commonly-referred to as the "Big Three" have announced recently they are repaying their government loans early and investing $2 billion in new plants.
On Tuesday, Ford chimed in that expecting sales of its global product to go up to about 8 million vehicles. Currently, Ford sells about 5.3 million cars around the world, the company said.
"Ford is a growing company operating in a growing global automotive market,” Ford CEO Alan Mulally said. “Through our One Ford plan, we are increasing our product investments to meet this growing demand with a full family of best-in-class products.”
Ford said its operating margin globally to go up from 6.1 percent in 2010 to 8 or 9 percent. In North America, the company said the margin would between 8-10 percent.
The status of the auto companies has emerged as a political flashpoint recently as Democrats have looked for signs of economic growth to defend President Obama's record heading into the 2012 election. Earlier Tuesday, President Obama use the recent news auto industry to provide evidence the country wasn't facing a double-dip recession.
Democrats have also criticized Republicans for initially opposing the bailouts to the car companies, which began under former Preisdent George W. Bush, but were managed by Obama. A frequent target has been Republican Presidential candidate Mitt Romney, who famously penned a New York Times op-ed titled "Let Detroit Go Bankrupt" in 2008.
Romney has defended the article, saying he was suggesting a structured bankruptcy that was very similar to what ended up happening with Chrysler and GM.
