Because Trump .. '' Ford Motor Co. '' lose for the first time since 2009 ~ autocar-plus

Saturday, January 28, 2017

Because Trump .. '' Ford Motor Co. '' lose for the first time since 2009

Because Trump .. '' Ford Motor Co. '' lose for the first time since 2009 : Announced the "Ford Motor", the second largest producer of cars in the United States Thursday, its first quarterly loss since 2009 due to non-recurring expenses as a result of the abolition of the planned establishment of a plant in Mexico. The company said it recorded during the fourth quarter of last year's net loss of $ 800 million, compared with a profit of 9.1 billion dollars during the same period of the previous year. These losses were mainly a result of accounting expenses worth $ 3 billion due to the deficit in the pension fund, the company also bore the private cost of $ 200 million because of the decline for the establishment of a factory in Mexico plan.

President Donald Trump has attacked the company for months because of the construction of a plant in Mexico to produce a compact car "Ford Focus." Earlier this month, "Ford" announced the cancellation of Mexico plant project and production of the car using the Fox production lines in Mexico and provide 700 new jobs in one of its factories in the state of Michigan for the production of larger cars, the most profitable and popular in the US market. The company insists that these decisions are not bound by the positions of Trump.

Trump had threatened to auto companies to impose heavy taxes on cars manufactured outside the United States when entering the US market. Shares of the company operating profit before tax in the fourth quarter of last year by 20% to 1.2 billion dollars while revenue fell 4% to 7.38 billion dollars.

Saturday, January 28, 2017