Page 24 - ARUBA TODAY

Friday 18 august 2017 BUSINESS
A24

New CEO: Ford will balance present with future US factory output
down on
increasing traffic with tech- tumbling
nology and better trans-
portation options. auto production
Although people in cit-
ies have more transport
choices such as ride-hail- By PAUL WISEMAN
ing services Uber and Lyft, AP Economics Writer
Hackett predicted that WASHINGTON (AP) — A
personal car ownership slump in the auto industry
will survive. People already drove U.S. factory output
own vehicles and prefer to down in July and has kept
drive them knowing that it flat for months.
they aren’t used 90 per- The Fed said Thursday
cent of the time, Hack- that factory production
ett said. “I’m not ready to dropped 0.1 percent last
admit that Ford is facing month, pulled down by a
a world where it’s losing a 3.5 percent plunge in out-
lot of personal buyers,” he put of cars, trucks and auto
said. parts. Auto production has
“But I would admit that dropped for three straight
they’re going to have a lot months and is down 5 per-
more options.” cent over the past year.
In September, Ford bought Auto sales, which have
Chariot, an app-based
In this Monday, May 22, 2017 photo, Ford Motor Co. CEO Jim Hackett speaks in Dearborn, Mich. shuttle service that origi- been strong in recent
Hackett says the company isn’t taking its eyes off the present as it prepares for transportation in nally operated 100 14-pas- years, skidded 7 percent in
the future. July.
(AP Photo/Paul Sancya) senger vans in the San The drop in automotive
Francisco area. Since then production was partially
By TOM KRISHER more new vehicles are in recently updated with a it’s tripled the fleet and ex- offset in July by a 0.2 per-
AP Auto Writer the pipeline. Dealers don’t new aluminum body, other panded to New York, Se- cent rise in other manufac-
DETROIT (AP) — The new know everything the com- important bread-and-but- attle and Austin, Texas. The turing output.
CEO of Ford Motor Co. says pany is planning, Hackett ter products such as the company also is investing Overall industrial produc-
the company isn’t taking said in a brief interview with Fusion sedan and Escape $1 billion in a budding ro- tion — which adds output
its eyes off the present as it The Associated Press. “We SUV have grown dated. botics startup, Argo AI, to by mines and utilities —
prepares for transportation think dealers are really go- Ford has lagged rivals in acquire more expertise for rose 0.2 percent, the Fed
in the future. ing to be happy with the long-range electric cars, autonomous vehicles. said. Mining output rose
Jim Hackett, who replaced vehicles we’ve got coming and while subcompact Hackett said spending on 0.5 percent, and utility pro-
Mark Fields in May, says this year and what we’ve SUV sales are booming, the future is small com- duction rose 1.6 percent.
new mobility projects such got in the hopper,” he said, Ford doesn’t plan to roll out pared with how much Ford American manufacturers
as buying a shuttle compa- without giving specifics. an entry in that market until spends on car and truck had bounced back from a
ny and the purchase of an Ford’s U.S. sales were down next year. development. slump in late 2015 and early
artificial intelligence start- 4 percent through July and Successful CEOs always He said Ford has to be at 2016 caused by cutbacks
up have not taken money its market share has slipped have to prepare for the fu- the forefront of helping in the energy industry and
from car and truck devel- 0.3 percentage points, ture and take care of the cities deal with increased a strong dollar, which
opment. causing investors and deal- present, Hackett said from congestion from growing makes U.S. goods costlier
Responding to criticism ers to worry about the the San Francisco area, populations and increased in foreign markets. But the
from dealers and investors company’s product deci- where he was to attend a package deliveries as ve- Fed says manufacturing
about an aging product sions. While Ford’s top-sell- Ford symposium Thursday hicles fight over scarce output was little-changed
lineup, Hackett says that er, the F-Series pickup, was on helping cities handle curb space for parking.q from February through July.
Walmart chases Amazon as its online sales soar Other recent reports on
American manufacturing
have looked stronger.
By JOSEPH PISANI panding online grocery or- The Federal Reserve Bank
AP Business Writer dering to more stores, and of New York on Tuesday re-
NEW YORK (AP) — is adding giant automated ported that factory activity
Walmart’s recent spending kiosks to 100 locations so in New York shot up to the
spree to try to catch up to customers can pick up highest level in nearly three
Amazon seems to be pay- online orders without wait- years.
ing off. ing for employees to fetch The Commerce Depart-
The world’s largest retailer them. Other traditional ment reported earlier this
said Thursday that online retailers are seeing on- month that orders at U.S.
sales soared 60 percent line gains, too: Walmart’s factories surged in June
in the past three months report came a day after on strong demand for ci-
as people shopped more Target said its online sales vilian aircraft. The Institute
at Walmart.com, Jet.com jumped 32 percent in its for Supply Management
and its other websites. most recent quarter. reported that American
Walmart had paid more But Amazon still poses a factories expanded in July
than $3 billion for Jet last threat. The e-commerce for the 11th straight month.
year, and since then giant is in the process of Factories have hired 66,000
picked up smaller players A shopper looks at merchandise at a Walmart in Salem, N.H. buying organic grocer workers since July 2016,
Wal-Mart Stores, Inc. reported earnings, Thursday, Aug. 17, 2017.
including ModCloth and (AP Photo/Elise Amendola) Whole Foods in a $13.7 bil- biggest 12-month gain in
Moosejaw. It is also ex- lion deal.q nearly a year and a half.q