Independent, UK - Donald Trump has been quick to take credit for a decision by Ford to scrap a new plant in Mexico and instead create 700 new jobs in Mexico.
He tweeted a comment from Ford’s CEO that the decision was a “vote of confidence” in the pro-growth policies Mr Trump has vowed to pursue.
But the same executive, Mark Fields, has revealed that market conditions were much more of a factor in the company’s decision.
“The bottom line is we’re not seeing the volume and the demand that we expected for that plant. And, therefore, we're looking at our capacity and saying, ‘You know what, we can build that in an existing facility and use capacity that we already have’,” he told CNBC.
On Tuesday, Ford said it would spend $700m in its Flat Rock, Michigan, plant and add 700 new jobs. The company said it would continue to build its Ford Focus at an existing plant in Hermosillo, Mexico, to improve company profitability.