Ford claims they are on their way to profitability by 2008

Ford claims they are on their way to profitability by 2008

Ford Motor has said that they are on track to meet its goal of making its North American auto business profitable by 2008. Mark Fields, Ford’s president of the Americas said in a statement while launching some new models from the company: “We remain very, very committed to this.”

This announcement came after the company came under excessive pressure from the market rumors saying that they are falling short of achieving their goals to reach their targets of 2008.

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

The company is undergoing a massive restructuring process, which would result in massive job cuts and closing down of several loss making plants. Ford is also hoping that by launching a series of new fuel-efficient vehicles, they can counter slowing sales growth in their domestic market.