In the news: Ford is transforming a full-size truck plant near Mexico City to build the new Fiesta, a compact vehicle that will be sold in global markets worldwide under the name. Mexico will produce all Fiesta sedans and hatchbacks for the North American market.
Ford president and CEO Alan Mulally: "Ford is absolutely committed to leveraging our global assets to accelerate the shift to more fuel-efficient small cars and powertrain technologies that people really want and value. Our investments in these facilities in Mexico are part of our plan to further realign our manufacturing capacity in line with the introduction of more small cars and crossovers."
Translation: Nobody's buying our big trucks and SUVs, so we'll build small cars. Naturally, we will find the global plant where it costs us the least amount of money to make them.