Ford Built 171,000 Vehicles
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LAST year, the Ford Motor Co., La Ltd., produced 171,000 vehicles, of which 125,000 were exported. About 80 per cent. of the cars and tractors and more than 55 per cent. of the commercial vehicles were shipped
overseas. Income increased by just over 5 per cent. to £68m. These figures are given by . Sir Rowland Smith, chairman, in his annual report He says that the reduction in the domestic quota of vehicles will emphasize the industry's increasing dependence on exports. The recent severe import restrictions in Australia show the importance of distributing vehicles as widely as possible throughout the world.
"Our immediate concern in the future," says Sir Rowland, "is in respect of the adequacy of material supplies, the movement of costs, the maintenance and • expansion of our export markets, and the prospect of supplying vehicles to the home market. All these factors are dependent upon the outcome of our threefold national economic battle—to direct resources to defence, to balance our external trade and to defeat inflation."
Since 1938, he adds, the motor industry's exports, at 1938 prices, have increased by more than 500 per cent. This is by far the greatest advance recorded by any of Britain's major exporting industries. Consequently, Sir Rowland hopes that the Government will give the industry adequate supplies. During the past six years, Ford exports have amounted to £152m.
"It is to be hoped," he continues, "that, as'a cushion for possible disruption in export markets, increased deliveries will be permitted in the home market, otherwise unemployment could arise."