Did Trump’s comments about GM play a part in Ford cancelling plans to build a $1.6 billion plant in Mexico?
Trump has been putting pressure on U.S. companies to keep their business in the U.S, but according to Ford, no, this is not the reason why the plant was cancelled.
According to CEO Mark Fields, speaking to CNBC’s “Halftime Report” on Tuesday, the cancellation was due to decreased demand for small car production.
“The main reason for not building the plant and canceling the plant in Mexico is just due to market demand,” he said. “The bottom line guys is that we’re not seeing the volume and demand that we expected at that plant.”
Disclaimer: We have no position in Ford Motor Company (NYSE: F) and have not been compensated for this article.