Skip navigation
MOST POPULAR RELATED TAGS
  • TOPICS
  • SECTORS
  • COMPANIES
 
 
Behind the Wheel Video Gallery
German stocks were lower Friday. Matthias Born from Allianz Global Investors sees value in "companies which are on histo...
Chrysler's June sales were down 42 percent in the U.S. CNBC's Phil LeBeau has the details.
LEBEAU'S AUTO INDEX
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...

BEHIND THE WHEEL VIDEO

» More

Current DateTime: 05:06:35 04 Jul 2009
LinksList Documentid: 30830730
Expiration DateTime: 7/4/2009 5:09:30 AM

RSS FEED

» Help

Current DateTime: 05:06:36 04 Jul 2009
LinksList Documentid: 30830722
Behind The Wheel
Text Size
Sep.12
8:58 AM ET
Friday, 12 Sep 2008
Ford CEO Mulally: Federal Money Will Help Company Thrive

Alan Mulally
AP
Alan Mulally

When Ford CEO Alan Mulally sat down with me and the anchors of "Squawk Box" this morning, his candid comments about federal loans to automakers show congress is likely to lend the money. As I've said before, I think it's money well spent.

Yes, I know some of you are rolling your eyes and saying, "Give me a break! Why should we bail out these guys? They got into this mess, they can themselves out of it."

Funny, I asked Mulally that question and he admitted Ford [F  Loading...      ()   ]was truck and SUV focused because THAT is what the customer wanted. Now that the market has shifted, Ford has to try and shift with them. Unfortunately, getting the money to re-tool the assembly plants is not easy when the credit rating is in the tank. Hence, the automakers are turning to Washington for help.

Mulally is encouraged the money will be approved, and that Ford will be able to use some of those funds to get its plants and portfolio of vehicles positioned to thrive. Even if gas prices fall, Mulally says Ford will continue with it's plan to build and sell more cars and crossovers.

When I asked him if Ford can make a profit off of small cars, he was adamant in saying it could happen. How? By building world cars and lowering the costs by using the economy of scale Ford will get with sales around the world. You may not believe it, but Mulally is not discouraged.

Turning around Ford won't happen overnight, but with the federal loans Mulally is encouraged the transformation will take place.

_____________________________________
Click on Ticker to Track Corporate News:

- Ford Motor [F  Loading...      ()   ]

- General Motors [GM  Loading...      ()   ]

- Nissan [NSANY  Loading...      ()   ]

- Honda Motor [HMC  Loading...      ()   ]

_____________________________________

Questions?  Comments? 

© 2009 CNBC, Inc. All Rights Reserved

Tools:
PrintEmailAdd This share icon
Next Post


Current DateTime: 01:01:47 04 Jul 2009
LinksList Documentid: 29778428

Current DateTime: 01:04:09 04 Jul 2009
LinksList Documentid: 29779196

Current DateTime: 01:04:09 04 Jul 2009
LinksList Documentid: 29779199

Current DateTime: 01:04:10 04 Jul 2009
LinksList Documentid: 29779198
CNBCCNBC
About CNBC  |  Site Map  |  Privacy Policy  |  Terms of Service  |  Video Reprints  |  Advertise  |  Help  |  Contact
Partners: AOL Money  |  BloggingStocks.com
CNBC is a Division of NBC Universal
  Data is a real-time snapshot *Data is delayed at least 15 minutes
Global Business and Financial News, Stock Quotes, and Market Data and Analysis

© 2009 CNBC, Inc.  All Rights Reserved.
Thomson ReutersThomson Reuters