Ford Motor Co., earning its heftiest profits ever in North America, is pumping money back into operations to counter new pickups from competitors and a growing currency advantage for Japanese automakers.
Ford Motor Co. is on a tear in China, with sales up 54 percent this year on the strength of its Focus small car. Long an also-ran in the world’s largest auto market, Ford is now outselling Toyota Motor Corp. there.
Ford Motor Co. directors are preparing to promote Mark Fields to chief operating officer from president of the Americas, a move that anoints him as probable successor to Chief Executive Officer Alan Mulally, according to a person familiar with the plan.
Ford Motor Co., the second-largest U.S. automaker, is making contingency plans should the nation’s economy falter if President Barack Obama and Congress go over the fiscal cliff. Its main domestic rivals aren’t.
Ford Motor Co. Chief Operating Officer Mark Fields, in line to run the company eventually, said having Chief Executive Officer Alan Mulally beside him in a weekly meeting of top executives is important for continuity.