CHICAGO, Jul 19, 2008 - Car maker Ford Motor Co. is drawing up plans to retool American plants to make small, fuel-efficient passenger cars that it mainly makes and sells in Europe, the Wall Street Journal reported on Saturday.The paper said Ford has looked at bringing over European models, including the mid-size Mondeo, in response to high fuel costs that have hit sales of larger, fuel-hungry trucks and sport utility vehicles.
Citing people familiar with the matter, the WSJ said portions of this move could be announced on Thursday when the Dearborn, Michigan-based company reports second-quarter results.
In June, Ford announced it would slash output this year by eliminating shifts, slowing assembly lines and idling truck plants. The car maker said further details on its revised restructuring plan would be provided when it released its second-quarter results.
In an e-mail response to a request for comment on the WSJ report, Ford spokesman Mark Truby said the company would not release details of its plans before Thursday.
"We won't comment on speculation on what we may or may not announce in advance," he said.
[Source : Reuters]
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