Mexican Media Brands
Fields: U.S. Sanctions Won’t Hurt Ford in Russia
New U.S. and European Union economic sanctions against Russia in response to its invasion of Ukraine's Crimea peninsula present no immediate threat Ford Motor Co. operations in Russia, says COO Mark Fields.
#labor #economics
Share
New U.S. and European Union economic sanctions against Russia in response to its invasion of Ukraine's Crimea peninsula present no immediate threat Ford Motor Co. operations in Russia, says COO Mark Fields.
He tells reporters that Ford still expects Russia to become Europe's largest car market. He says Ford is more concerned about the impact of the weakened ruble on the overall health of Russia's economy. Analysts point out that the ruble's 11% drop so far this year helps domestic producers, led by Lada-makers OAO AvtoVAZ.
Russian media have reported that Ford's 50:50 venture with OJSC Sollers may suspend some production between April and June because of slumping sales.
Last year the venture sold 106,700 vehicles in Russia, down 18% from 2012, according to the Moscow-based Assn. of European Businesses. AEB says demand for Ford vehicles in the first two months of 2014 dropped 21% to 10,600 units.
Ford Sollers currently produces the Focus and Mondeo sedans in St. Petersburg. The partners also operate a factory in the Russian republic of Tatarstan that makes the Kuga crossover, Explorer SUV, S-Max MPV, Galaxy minivan and Transit commercial van.
RELATED CONTENT
-
Volvo and Uber Strike Deal for Autonomous Vehicles
Volvo—the gutsiest car company on the planet is likely to become the most autonomous-tech related vehicle provider in the world as it has announced a framework agreement with Uber under which it will sell “tens of thousands of autonomous driving compatible vehicles [to Uber] between 2019 and 2021.”
-
Is Brexit U.K. Auto’s Waterloo?
French manufacturers, particularly those in the automotive sector, are making significant investments in robotic technology, according to the International Federation of Robotics (IFR). The organization says that its most recent figures show that the number of robots installed in the French car industry rose 22 percent, to 1,400 units.
-
GM Unit Stresses Driver Training in Autonomous Cars
General Motors Co.’s Cruise Automation unit says it puts backup drivers and auditors through extensive training before allowing them to participate in real-world autonomous vehicle tests.