Skip to main content
Sister Publication Links
  • European Rubber Journal
  • Plastics News
  • Tire Business
Subscribe
  • Login
  • Register
  • Subscribe
  • News
    • Automotive
    • Tire
    • Non-Tire
    • Suppliers
    • Silicone
    • Online Exclusive
    • Latex
    • Technical Notebooks
    • Executive Action
    • Government/Legal
    • Opinion
    • Rubber Division IEC
    • ITEC
    • Blogs
    • Sustainability
    • Products
    • Wacky World of Rubber
  • War in Ukraine
  • Custom
    • Sponsored Content
    • White Papers
  • Resources
    • Directory
    • Classifieds & Mold Mart
  • Data
  • Events
    • RN Events
    • RN Livestreams/Webinars
    • Industry Events
    • Past Events
    • Rubber News M&A Live
    • 2022 Hose & Belt Manufacturers Conference
    • 2022 International Silicone Conference
    • 2022 International Tire Exhibition & Conference (ITEC)
  • Advertise
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. News
September 30, 2016 02:00 AM

Ford CEO refutes Trump's jobs accusations

Keith Naughton
Bloomberg News Service
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print
    Mark Fields, CEO of Ford Motor Co., said Donald Trump's continued accusations that the auto maker is moving jobs to Mexico is "disappointing."

    DETROIT—Ford Motor Co.'s top executive said he's disappointed by Republican presidential candidate Donald Trump's accusations that the auto maker is moving jobs to Mexico and reiterated that the transfer of small-car production will result in “zero” job loss in the U.S.

    “Our commitment to American jobs is stronger than it ever has been,” CEO Mark Fields said in an interview at the Bloomberg Markets Most Influential Summit. “The facts are, zero jobs are going to be impacted here in the U.S.”

    Ford is moving production of its slow selling Focus compact car and C-Max hybrid to Mexico—where labor costs are lower—to generate a better return for shareholders, Fields said in a follow-up interview with Bloomberg Television. It is replacing those models in the factory in Michigan with two new products, he said. People familiar with Ford's plans have said the new models will be the Ranger compact pickup and a revived Bronco SUV.

    “We're in the presidential election season and there's lots of things said on the campaign trail,” Fields said. “It's really disappointing when politics gets in the way of facts.”

    On defense

    Fields has spent some of the past two weeks battling Trump's accusations, repeated during the Sept. 26 presidential debate, that the auto maker is firing U.S. employees to move work to Mexico. The company took to Twitter and other social media during the debate to counter the claims.

    Trump has threatened to levy a 35 percent tariff on Ford's Mexican-built cars if he's elected in November.

    “We want to make sure we run a responsible business, drive returns for our shareholders,” Fields said. “As a multinational business, we really have to look where we can make good returns and satisfy customers.”

    Fields declined to say whether Ford would employ more U.S. workers if there was no North American Free Trade Agreement, which Trump has criticized as the worst trade deal ever.

    “That's a hypothetical question,” Fields said. “What's said on the campaign trail and governing sometimes can be very different things.”

    In addition to seeking a better return for shareholders, he said Ford puts a priority on “driving economic development in the countries that we do business in and, of course, that's very important here in our home market.” The company has hired 28,000 workers in the U.S. since 2011 and invested more than $12 billion at home.

    Fields is attempting to overhaul the 113-year-old auto maker as the industry confronts changes from the sharing economy and the advent of the autonomous car. He aims to transform Ford into a mobility company that captures a piece of the $5.4 trillion transportation services business.

    By 2021, Ford has promised to start selling more than 100,000 self-driving robot taxis—with no steering wheel, brake or gas pedals—to ride-hailing and ride-sharing fleets. The company also is introducing a commuter-van service and bike sharing in San Francisco, with plans to go nationwide.

    Investors haven't reacted favorably the cost of converting Ford, driving down shares 30 percent since Fields became CEO July 1, 2014. Over the past month, Ford has warned that financial results will decline this year and next as it invests in driverless cars and mobility services.

    The payoff is the promise of 20 percent profit margins in these as-yet untapped mobility markets—more than double the returns of the traditional car business.

    Related Articles
    U.S. auto sales reach record high
    Michelin fitted on Ford RS vehicles
    Auto maker ratings fall amid changes
    U.S. auto sales mixed as second half begins
    U.K. records highest September for new car market
    Industry wonders if Trump's NAFTA promises will become reality
    Letter
    to the
    Editor

    Rubber News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].

    Most Popular
    1
    ExxonMobil to increase olefinic capacity with $2 billion expansion
    2
    Uth: Investment in solar power a reflection of success
    3
    Stellantis rescinds ‘burdensome' contract terms for suppliers
    4
    Our View: Evolution is the solution to industry woes
    5
    Orion supports electrification with new production plant
    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Get our newsletters

    Staying current is easy with Rubber News delivered straight to your inbox, free of charge.

    Subscribe Today

    Subscribe to Rubber News to get the best coverage and leading insights in the industry.

    SUBSCRIBE
    Connect with Us
    • LinkedIn
    • Facebook
    • Twitter

    MISSION

    To serve companies in the global rubber product industry by delivering news, industry insights, opinions and technical information.

    Contact Us

    2291 Riverfront Pkwy, Suite 1000
    Cuyahoga Falls,
    OH 44221

    Customer Service:
    877-320-1726

    Resources
    • About Us
    • Digital Edition
    • Staff
    • Advertise
    • Order Reprints
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Careers
    • Ad Choices Ad Choices
    • Sitemap
    Partner Sites
    • Tire Business
    • European Rubber Journal
    • Plastics News
    • Plastics News China
    • Urethanes Technology
    • Automotive News
    • Crain Brands
    Copyright © 1996-2022. Crain Communications, Inc. All Rights Reserved.
    • News
      • Automotive
      • Tire
      • Non-Tire
      • Suppliers
      • Silicone
      • Online Exclusive
      • Latex
      • Technical Notebooks
      • Executive Action
      • Government/Legal
      • Opinion
      • Rubber Division IEC
      • ITEC
      • Blogs
        • Products
        • Wacky World of Rubber
      • Sustainability
    • War in Ukraine
    • Custom
      • Sponsored Content
      • White Papers
    • Resources
      • Directory
      • Classifieds & Mold Mart
    • Data
    • Events
      • RN Events
        • 2022 Hose & Belt Manufacturers Conference
        • 2022 International Silicone Conference
        • 2022 International Tire Exhibition & Conference (ITEC)
      • RN Livestreams/Webinars
      • Industry Events
      • Past Events
      • Rubber News M&A Live
    • Advertise
    • DIGITAL EDITION