Ford Motor Co. says it’s moving all of its U.S. small car production to Mexico. Ford CEO Mark Fields confirmed the long-expected move Wednesday during an event for investors and Wall Street analysts.
Ford currently makes its Fiesta subcompact in Mexico, but its Focus and C-Max small cars are made in suburban Detroit. Making them in Mexico would boost company profits because of low wages there.
The company is building a new $1.6 billion assembly plant in San Luis Potosi, Mexico. It will make small cars there starting in 2018.