Ford blames market conditions, pulls out of Japan, Indonesia – CNBC

Posted: Tuesday, January 26, 2016

In Indonesia, it was difficult for Ford to compete without local manufacturing and vehicles to sell in key market segments, McCarthy said. Ford has restructured its business there but still has less than 1 percent of the market with “no reasonable path to sustained profitability,” he said.

When the trade agreement was being negotiated in 2013, Joe Hinrichs, Ford’s president of the Americas and a former head of its Asia-Pacific operations, said that Japanese Prime Minister Shinzo Abe should be told to open the country’s automobile market.

“We hope the U.S. government will send a clear message that any future trade policy with Japan must ensure a level playing field and not come at the expense of American workers,” Hinrichs said.

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