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Latest Business News

Ford CEO Cancels Order for Lexus

Wednesday, January 03, 2007 10:23:34 PM
By JIM IRWIN

DEARBORN, Mich. (AP) - Alan Mulally said Wednesday that he canceled his order for a Lexus after taking over as Ford Motor Co. CEO, but he nevertheless respects Toyota Motor Corp. and its luxury brand, though he has no intention of bringing the companies any closer.

Mulally, who took over at the nation's No. 2 automaker last year, said he deeply admires the Japanese automaker for its manufacturing processes and product development strategy. He said that was the reason for his trip to Japan last month to meet with Toyota executives.

Mulally called Toyota "the finest machine in the world, the finest production system in the world. So we went to study with the master. I really wanted to connect with each of the manufacturers in the industry and to do it quickly," said Mulally, who was hired away from aircraft maker Boeing Co. by Ford.


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