Joe Hinrichs, Ford’s president of global operations says the move will save the company about $1 billion, including the $500 million saved from pulling out of the Mexico deal to build the Ford Focus, according to CTV News.
The company’s move to shift production to China is considered a major change in direction for Chief Executive Officer Jim Hackett, resulting in a complete break from the priorities of his ousted predecessor, Mark Fields, but as Bloomberg is reporting, it is also a test to see what Donald Trump will say about the cars not being American made.
“We’ve done a lot of research and consumers care a lot more about the quality and the value than they do about the sourcing location,” Joe Hinrichs, Ford’s president of global operations, said in a conference call with reporters Tuesday. “iPhones are produced in China, for example, and people don’t really talk about it.”
The Ford Focus, which is now being built at an assembly plant in Michigan, will also be imported from Europe, but most of the new 2019 models that will be sold in North America will initially come from China, according to Market Watch.
Ford Motors stock is down to $11.19 on the NYSE, dropping $0.05 in trading today as of 11:30 a.m.
