Ford Motor Co. Chairman William C. Ford Jr. urged the government yesterday to help struggling U.S. automakers by expanding subsidies for companies that make components for hybrids and other fuel-efficient vehicles, as U.S. automakers race to close a widening technology gap with the Japanese.
In a speech at the National Press Club, Ford asked for more incentives, such as tax credits, to prod consumers to buy hybrids and other vehicles with fuel-saving technology. He also asked Congress for money to retrain workers, and to consider tax incentives to help manufacturers outfit old plants with new equipment. In the speech, Ford said a national strategy is needed to respond to the pressures of globalization, which he called the “economic challenge of our time.”
Fascinating. Ford, along with GM and to a lesser extent, the others, gorged on highly profitable SUV sales for years. That strategy does not have legs any longer…