Ford is seeking government’s help to develop fuel-efficient cars
Struggling automaker Ford is seeking support from the US government in order to get more competitive in their domestic market where they are making huge losses. Rising fuel prices has led to a situation where consumers have developed a liking for Japanese cars, which are both fuel efficient and reliable. Honda and Toyota cars are closing in on sales of both GM and Ford.
The chief executive of Ford Motor Co. Bill Ford on Tuesday called on Congress asking for tax credits and other incentives to help them develop newer technologies to power fuel-efficient cars in the American market. The company wants to boost the confidence in the auto market, which is stunned by the massive job cuts announced by General Motors.
Ford said in a statement: “Despite recent announcements, our domestic auto manufacturers are still the foundation of the auto industry in this country. We still employ nearly 90 percent of the workers in our industry. We still manufacture 75 percent of the cars and trucks made in America. We purchase 80 percent of all U.S. auto parts.”
The company had recently announced their plans to cut 4,000 white-collar jobs, or about 10 percent of its salaried North American work force. They have also announced that they are going to accelerate its production of hybrid and ethanol powered vehicles over the next several years.