Ford Motor Company (NYSE:F) President and Chief Executive Officer Alan Mulally spoke with FOX Business Network’s (FBN) Liz Claman about his thoughts on bringing Ford’s Motor Credit to China. Mulally said, “I think overtime” we will have Ford Motor Credit available in China and “the credit markets are further developing in China and especially the Asset-Backed Securities.” When asked about alternative fuel sources for vehicles Mulally said, “the internal combustible engine will be around for a while” and that “I think there is a great market for Natural Gas.”
Excerpts from the interview with Alan Mulally below
On whether Alan Mulally thinks Ford Motor Credit will be available in China:
“I think overtime we will – especially the credit markets are further developing in China and especially the Asset-Backed Securities. And of course, as you point out Ford Motor Company (NYSE:F) credit is a tremendous asset for us and is very competitive and even more competitive now as the parent corporation has moved back to investment grade, but you’re right, most of the sales now are cash with their savings, but I think overtime you will see more and more credit. And we are going to be there for that one stop shopping with the Ford Motor Company.”
On alternative fuel sources for vehicles:
“The internal combustible engine will be around for a while, and what we are doing with turbo charging and direct fuel injection, we are actually improving the fuel efficiency over 30 percent and reducing the CO2 by 20, so a lot of improvement on the internal combustible engine. Then I think we will see a continuing alternative fuels, and then we’ll almost see more electrification and I think the order of that will be hybrids first, then plug in hybrids, and as we work on the cost and the size of the batteries then we will see more electric vehicles over time. I think there is a great market for Natural Gas.”
