Ford CEO on Staying Competitive

Today I sat down with the CEO of the only major domestic auto maker that hasn’t entered Chapter 11—Ford’s Alan Mulally.

We talked about everything from getting back to profitability, the UAW and what products we can expect in the near future.

Mulally said the company has reduced it debt by more than $10 billion and is working to increase its market share. “We also went to the equity markets and raised over $1.6 billion in fresh equity so we’ll continue to look for opportunities along the way here as we march back to profitability to improve the balance sheet.”

He said his company isn’t at a disadvantage by not taking money from Uncle Sam and is working with United Autoworkers Union.

“Well I wouldn’t say we have a disadvantage because the agreements are different. And when we negotiated our agreement we absolutely are competitive in the United States. The important thing is its never a one shot deal, we’ll continuously improve all elements of our competitiveness every year, forever because that’s what it takes to operate in this very competitive global marketplace.”

And for all your car lovers out there Mulally also talked about the launch of the Ford Taurus. “It’s absolutely focused on the customer—best in quality, fuel efficiency, safety—this is like the all time proof point that Ford is back.”

Check out the full interview: