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WHEN: Today, Tuesday, January 5th
WHERE: CNBC's "Squawk on the Street"
Following are excerpts from the unofficial transcript of a FIRST ON CNBC interview with Ford President & CEO Mark Fields on CNBC's "Squawk on the Street" (M-F, 9AM-11AM ET) today. Following is a link to the interview on CNBC.com: http://video.cnbc.com/gallery/?video=3000474385.
All references must be sourced to CNBC.
FIELDS ON THE SALES YEAR
We're seeing really strong demands for our products particularly our new products and that's why December we had a great month, a strong end to a strong year driven by our SUVs, our F-series pickup truck, our Fusion, and our commercial vans. So it's been a very strong year for us and allowed us to be the best-selling brand for the sixth straight year in a row.
FIELDS ON NEW TECHNOLOGY
We're using CES to really show how we're accelerating our transition from an auto company to an auto and mobility company. If you look at internet enabled devices, smart devices in the home, more and more people are buying them and we want to integrate Ford vehicles to give consumers to empower them to use those devices and give them a level of convenience and a peace of mind that they get in a Ford experience unlike any others.
FIELDS ON AUTO SALES FUTURE
I think the next couple of years are going to be pretty good for the auto industry. I think '16 is going to look a lot like '15 and the elements for that if you look at the economic elements, you look at the health of the labor market, wage and income growth, even the latest interest rate rise by the Federal Reserve it was very gradual, but that is also an indication that the economy is doing well.
FIELDS ON THE MOBILITY SERVICES MARKET
Our approach is pretty straight forward. We want to grow our core business – you know, designing and developing and manufacturing and selling great cars, trucks, SUVs and electrified vehicles. But also we see a huge opportunity in growing our business in the emerging mobility services market. And for us, whether we do that in some cases on our own, or whether we do it with partners, we're going to do it in a way that satisfies consumers that provides value, creates value for the company and enhances our brand.
FIELDS ON CHINA
I think you have to put China in perspective, Jim. As you know, they're transitioning from an economy that's been investment and industry-led to one that's consumption-led. So as they go through that transition, there's going to be some volatility. There's going to be some ups and downs. When you look at their part of their GDP that's services and consumption-led, that is actually growing. That I think is a good sign. And as it relates to the auto business and our business in particular, you know, we've launched ten plants since 2010, our share has been growing, we're broadening our product lineup. And I think when you look at the industry this year, it's going to be helped by the consumption tax reduction that the government put in place in the fourth quarter of last year.
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