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Ford will be profitable by 2008, executive says

Ford Motor Co. remains "committed” to its turnaround target of making its auto business profitable again by 2008 and is on track to meet that goal, a senior executive said.
/ Source: Reuters

Ford Motor Co. remains "committed” to its turnaround target of making its auto business profitable again by 2008 and is on track to meet that goal, a senior executive said Wednesday.

“We remain very, very committed to this,” Mark Fields, Ford’s president of the Americas, said at an event to announce the company’s upcoming vehicle line-up and a competitive push into the U.S. car market.  “We are on track.”

Fields added: “I am happy where we are right now. In some areas we are ahead; in some areas we are behind; but we are where we expected.”

The comments came after Bloomberg News quoted unnamed Ford officials as saying that the company might not meet its turnaround target because of higher gasoline prices and declining SUV sales.