Ford Ready for New Cost Cutting Measures

Ford is the only member of the Detroit 3 group that hasn't asked for financial support from the United States and the company says the first signs of recovery are already appearing. Obviously, the path to success was paved with several cost cutting measures, just like in the case of its domestic rivals, GM and Chrysler. Only that Ford's fight with the economic recession is set to continue as the carmaker may apply new cuts in the near future.

"There are always going to be more opportunities," CFO Lewis Booth told the IAA Investor and analyst conference at Frankfurt according to just-auto.com. "There may be diminishing returns, but there are always going to be more opportunities."

Ford is experiencing better times in Europe where the government scrappage schemes are helping the US-based carmaker sell more small cars. Fiesta and Focus are the best selling models of the company, mostly thanks to their fuel efficiency and low emission figures.

"Ford showrooms are enjoying the sales rush triggered by a new registration plate, limited remaining scrappage subsidies and growing awareness of January's VAT increase. I'm delighted that Ford plants are feeling the benefits too," Nigel Sharp, Ford Britain managing director, said.

Ford recently announced that it will boost production at the UK plant to produce more engines following growing demand across European markets. Ford Dagenham added three extra weekend assembly shifts to boost 1.4 and 1.6 Duratorq diesel engine supply, while Ford Bridgend introduced new shifts to manufacture the required number of 1.25, 1.4 and 1.6-litre Duratec petrol engines.