US carmaker Ford Motor Co. announced yesterday that it is boosting Q-3 production in North America by another 10,000 units to meet increased demand for its vehicles. According to Ford Americas President Mark Fields, the company’s third-quarter production goal is now 495,000 units, about 18% higher than a year ago. Ford also increased its production targets for the fourth quarter to 570,000 vehicles, a 33% increase over the same period last year. Ford is one of the biggest beneficiaries of the federal government’s “cash for clunkers” program. Its Ford Focus compact has been one of the most popular choices for customers taking advantage of the program, which provides up to US$4,500 to motorists trading in gass guzzlers for new, more fuel-efficient vehicles. Recently US President Barack Obama signed into law a US$2B extension of cash for clunkers program after Transportation Secretary Ray LaHood warned Congress the program was about to use up the initial US$1B allocated by lawmakers.
Popularity: 2% [?]
