That's the gist of Chairman and CEO Bill Ford's statement to the annual meeting of Ford Motor Co. shareholders Thursday.
Saying that the company's long-term success depends on its global expansion, Ford emphasized that, despite its problems at home, all of the company's automotive operations outside North America are profitable. He went on to say that Ford Motor is aggressively targeting emerging markets, including Turkey, Russia, India and China, as avenues for future growth.
Ford reaffirmed the company's commitment to return its North American operations to profitability by 2008, and his personal commitment to forego a salary until that goal is met.
Responding to questions from shareholders, Ford said the company is considering adding a plug-in hybrid to its model range, while aggressively pursuing other ethanol, biofuel and hybrid solutions to rising petro-fuel prices and their impact on his company's revenues. He also stressed that overall Ford Motor's lineup is getting smaller and more fuel efficient.
[Sources: Ford Motor Co., Reuters]
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